The Most Popular Home Insurance Questions
Get the answers to some of the most popular home insurance questions in Deer Lodge, MT here. You can get the answers you need to ensure that you are getting the best coverage for your specific assets and home.
I need to file a claim. What will happen during the claims process?
Contact the company to tell them you need to make a claim. After you give them all the necessary information describing your insurance claim, you will be contacted by an insurance employee. This claims adjuster will contact you typically within a 48-hour window. The adjuster will help you gain more information needed for the claim and then will determine whether or not your claim is covered by insurance. Also, they will help you determine if an inspection will be necessary. Throughout the process, your claims adjuster will work with you to determine how much estimates will be for contractors, bills, reimbursement and other important pieces of the claim. They will help you recover and rebuild after the incident.
After a single claim, will my home insurance rates go up?
Loss experience is a crucial part of a home insurance rate estimate. Specifically, loss experience is determining how frequent a loss occurs and the severity of the loss. Items like a swimming pool or a trampoline will increase the likelihood of an accident and thus increase the rates. A single claim should not significantly increase the premium rate as long as the change does not present a new, greater risk on the property that would promote serious negligence on the part of the policyholder.
Do I have to own a home to have insurance for all of my personal property and assets?
Absolutely not. You can rent your home and have renters insurance that will provide you with insurance for your personal property.
Will I suffer a penalty if my home is not insured when the incident occurs?
If you have a “coinsurance clause” with your home insurance (most policies include this), you will have to pay a penalty. Be sure to review your insurance limits each year to be certain that you are fully protecting your assets and their values