You Turned Your Old House Into a Rental and Didn’t Tell Your Insurer. Your...
A Charlotte couple kept the homeowners policy on their old house after renting it to a family friend. Ten months later a kitchen fire caused $87,000 in damage and the insurer walked away.
Your Homeowners Policy Covers Water Damage, Except for the Type Most Likely to Actually...
A Cincinnati homeowner returned from a weekend trip to find $18,700 in sewer damage that her homeowners policy wouldn't touch. The water backup exclusion was on page 11 of her declarations. The endorsement would have cost her $80.
Homeowners Insurance Doesn’t Cover Flooding
Sandra had $340,000 in homeowners coverage and three feet of water in her living room. Her insurer paid zero. The standard homeowners policy excludes flooding entirely, and most homeowners don't find out until after the loss.
Personal Property Sublimits: Why Your $250,000 Homeowners Policy Pays Only $1,500 for Stolen Jewelry
A burglary cleaned out $9,200 in jewelry from Lauren Castillo's bedroom dresser. Her $250,000 homeowners policy paid only $1,500 because of a sublimit she had never read.
Your Homeowners Policy Stops Covering an Empty House After 30 Days.
A daughter settling her late father's estate left his house empty for four months. A burst pipe caused $42,000 in damage, and the vacancy clause voided the entire claim.
Wind and Hail Percentage Deductibles: Why a $58,000 Roof Claim Can Leave You Paying...
Carmen Ortiz expected to pay her $2,500 homeowner deductible on a $58,000 hail roof claim. Her policy carried a 2% wind and hail deductible on her $420,000 dwelling limit, so her out-of-pocket was $8,400. Percentage deductibles for wind and hail are a separate line most homeowners never read.
Her Insurer Paid for the Kitchen Fire. The City’s Code Rules on Her 1962...
Aisha's insurer paid for the kitchen fire damage. The city required her entire 1962 colonial brought up to current code. The $87,400 gap was hers to absorb.
Your Insurer Called a Slow Leak ‘Gradual Seepage’ and Denied the Claim. Here’s How...
Homeowners policies cover sudden, accidental water damage but exclude gradual seepage that builds over time. The difference decides whether your claim is paid, and an adjuster can read the age of a leak in the walls.
His Mold Remediation Estimate Was $18,400. His Homeowners Insurer Paid $5,000.
Marcus discovered black mold spreading across his basement drywall after a slow pipe leak. His remediation estimate was $18,400. His insurer paid $5,000.
Recoverable Depreciation: The Second Insurance Check Most Homeowners Never Claim
When a replacement cost policy pays a claim, the first check is short by the depreciation amount. That holdback is recoverable, but only if you finish the repair and send the final invoice. Most homeowners leave it on the table.
