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Miami Insurance Claims Attorney Explains: Common Myths About Homeowner’s Insurance

When it comes to homeowners insurance, many of us simply rely on information we hear from friends, family members, and acquaintances.  We may not even care to know more about how homeowners insurance works until we are faced with a situation of our own that requires us to file a homeowners insurance claim.  The process can be scary, especially when the information you receive from others may not be accurate.  As such, it is imperative that homeowners are aware of what some common misunderstandings are that can lead homeowners down the wrong path and upset at the end of the day when their insurance company will not provide coverage for certain damage to your home and belongings.

The attorneys of Greenberg, Stone & Urbano understand that common misconceptions or myths about the homeowners insurance claims process can lead to homeowner frustration and outright anger, and with good reason.  Our attorneys believe every homeowner deserves to know what is covered and what is not covered by an insurance policy, and should be able to learn this information without reading the multiple pages of fine print.  Insurance companies do not always make coverage information clear to homeowners, leading them to believe more is covered than what is outlined in a policy.

Common myths about homeowners insurance include, but are not necessarily limited to, the following:

  • Your homeowners insurance policy provides coverage for all of your possessions, including jewelry and other valuable assets that are damaged along with your home – while some insurance policies will cover a certain amount towards lost or damaged personal property, such coverage often has a limit, forcing homeowners to purchase additional coverage that will pay for personal property above and beyond the general homeowners policy.
  • Your homeowners insurance policy covers mold damage, regardless of how it happens – there may be certain situations where your homeowners insurance policy will cover mold damage; however, insurance companies heavily scrutinize mold damage to determine if the cause of the damage is related to maintenance issues, such as a leaking faucet or pipe, and in such cases, coverage may not be available.
  • Your homeowners insurance policy covers flood damage – this misconception is one of the most common in the state of Florida, where flooding is more prevalent than many other states; homeowners are shocked to find out that their homeowners insurance policy does not, in fact, cover flood damage, and that an additional policy may need to be purchased in order to protect your home from flooding.
  • Your car insurance policy covers lost personal belongings from theft of your car – this is a misconception that many homeowners may actually like; instead of car insurance covering the cost of personal property lost as a result of car theft, your homeowners policy may provide coverage for personal belongings stolen from your vehicle – even if the theft occurred away from your home.
  • Your homeowners insurance policy should be based on the market value of your home – while it makes sense that a homeowners policy should correspond to the market value of your home, insurance companies value the coverage based on how much it will cost to replace or repair structures on the property, and not be based on the land itself.

With the assistance of an attorney, you will be better prepared to handle homeowners insurance claims, as you will be equipped with information that many homeowners may never discover.

Contact the Miami Insurance Claims Attorneys of Greenberg, Stone & Urbano Today to Schedule Your Free Consultation!

If you have questions about the homeowners insurance claims process or find yourself in the middle of a dispute, it may be time to speak with a qualified legal professional.  A Miami Homeowners Insurance Claims Attorney can thoroughly evaluate your situation and provide individualized legal representation specific to what your needs and goals are.  At Greenberg, Stone & Urbano, our highly skilled Miami Homeowners Insurance Claims Attorneys have more than 130 years of combined professional experience assisting clients from all across South Florida.  Our law firm has received an AV rating from Martindale Hubbell, and has also been named as a top South Florida Law Firm by the Miami Herald.  If you would like to discuss your situation with one of our attorneys, contact Greenberg, Stone & Urbano today by calling (888) 499-9700 or (305) 595-2400 to schedule your free consultation.  You may also contact us online by visiting our website.

Source:

http://abcnews.go.com/Business/top-misconceptions-homeowners-insurance/story?id=19175070

 

 

 

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