3 common reasons an insurance company may deny your claim
Insurance is a valuable source of security for homeowners. The indemnity may signify the difference between having to go into debt to pay for repairs or not.
Because of this, a claim denial may result in stress and anxiety. As a consumer, you have certain rights under Texas insurance law, as well as the ability to appeal the said denial. However, before doing so, it is important to understand the reasons your insurer may deny your claim.
1. Lapse of time allowed
Insurance companies generally only allow claims within a certain period after a damaging incident occurs. Reporting damages after this time may result in the loss of the right to claim. The amount of time you have to file a claim is usually outlined in your policy. Inform your indemnifier of any damage as soon as possible to avoid violating the time limitation.
2. Insufficient documentation
Photos and detailed descriptions in physical form of damage are necessary. If you do not provide them, your insurer may deny your claim based on a lack of evidence.
3. Unexpected exclusions
Policies often do not cover every possibility. Many companies exclude certain incidents unless the customer purchases extra coverage specifically for them. Make sure to thoroughly read over your policy to understand what it does and does not include.
Insurance policies are often complex and detailed. Closely examining yours and taking the appropriate actions (documenting the damage properly and calling your insurer immediately) in the aftermath of an event may save you hassle and prevent a claim denial.
