Homeowners Insurance Expert
Homeowners coverage offered by carriers has become more restricted in recent years. Traditionally, homeowners’ policies provided broad coverage for physical damage to homes, including loss from fire, windstorm, theft, and water claims plus broad coverage for comprehensive personal liability. However, carriers have become more discriminating in selecting policyholders, and coverage tends to be less comprehensive. This trend stems partly from adverse loss experience with Florida hurricanes, Texas mold claims, wildfires in numerous states, and other multi-billion dollar natural disasters.
Homeowners Coverage Disputes
While homeowners’ policies may intend to provide fairly broad coverage, various policy terms and conditions still result in claim disputes between policyholders, agents, and carriers. Among the common culprits:
- Actual replacement cost for the dwelling and/or contents may exceed policy limits.
- Coinsurance penalties applied to Underinsured dwellings.
- Exclusions poorly understood by policyholders (i.e. Flood, earthquake, and mold).
- Building codes may significantly increase rebuilding costs.
- Impaired coverage for fire and vandalism due to “Vacancy” of the dwelling.
- Home occupied by someone other than the owner (i.e. tenant, owner’s children, etc.).
- Adequacy of Additional Living Expense after a severe loss.
- Personal liability exclusions and/or inadequate limits.
Call (817) 980-4897 to discuss your case.