A Labyrinth of Loopholes: BEWARE the Insurance Man
A Labyrinth of Loopholes: BEWARE the Insurance Man
Can't claim on your water damage repairs because you have a conservatory? Insurance handling is a minefield.
It can sometimes feel as though insurance companies are just a scam playing off of people's insecurities. There are so many loopholes and catches that the claiming process can feel like an absurd Kafkaesque game of strategy. The tiniest slip up or wrong move can destroy your chances of receiving the money to which you are entitled.
One tactic that insurance companies adopt is to change your coverage without your permission and without clearly informing you. In one example, a homeowner purchased homeowners insurance to cover water damage amongst others, but a few years down the line he receives a notice of "renewal" in which it is explained that his insurance now ceases to cover water damage or associated problems such as mould damage. The terminology on these notices is often unclear, or the phrasing ambiguous to the extent that the policy holder is no longer certain about their coverage. If you receive a letter that is unclear, get in contact with your insurance provider and ensure that you fully understand what you are covered for.
When your home incurs water damage it is best to seek a specialist for your water damage repairs. Another approach that insurance companies use is to claim that the water damage repairs have not complied with the terms of your insurance. Insurance companies will often have their own repair contractors, and this is one way to avoid loss. But even then you may be caught up amongst tactics to delay the necessary repair works.
With a backlog of claims to deal with, it is not unheard of for insurance companies to try any means to set back repairs. For instance, a couple who required full water damage repairs to their property were sent a carpet cleaner to fix the problem. The carpet cleaner was obviously sent away, but this bought time for the insurance company to appear as though they had taken some action. In the meantime the couple were left to live with the severe water damage while the condition only deteriorated. Do not be bullied into using their contractors, you have a legal right to choose your own independent contractor as long as the work is not excessively expensive.
It is best to immediately seek advice from a reputable independent repairs company who has experience in dealing with insurance companies. Ideally you should do this before your insurance company sends their loss adjustor. The specialist can survey the situation and advise you of what needs to be done.
I hope this article has helped to elucidate some people of the fraudulent techniques used by insurance companies. Don't get caught out.
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