Homeowner’s Insurance FAQ

The national law firm, the Arguello Law Firm represents clients in all types of insurance claims, including homeowners claims. Listed below are some common questions that people have in regards to homeowners insurance.

What does “property damage” cover?

Property damage typically pays for the damage to your home and personal property that was caused by fire, lightning, windstorms or hail. However, property damage does not include losses that are caused by floods and earthquakes. Homeowners have to purchase additional policies for flood and earthquake coverage.

What does “additional living expenses” cover?

If your home is damaged by an insured event and your home is uninhabitable while the repairs are being made, then the additional living expenses coverage will pay for the expenses needed to maintain your normal standard of living. The additional expenses coverage may include hotel costs, meals at restaurants and costs to store your property. Generally, the coverage has duration limits.

What is a Deductible?

A deductible is the amount of money that you agreed to pay out of pocket before the insurance company covers any losses. For example, if the covered claim is $3,500 and you have a $1,000 deductible, you pay $1,000 and the insurance provider will cover the remaining $2,500.

What is depreciation?

Depreciation is the loss in value of a home since it was built due to age and wear and tear.

Are cars and boats covered under my homeowner’s policy?

Motor vehicles are not covered under your homeowners insurance. However, some insurance companies may provide limited coverage for small vessels.

What type of information do I need to file a homeowner’s claim?

The type of information that you need to file a homeowners claim vary by insurance company. Typically, insurance companies will need the following information for the claim process:

• When the damage occurred (date, time)
• How the damage occurred
• What was damaged
• In situations regarding theft, were the police contacted.

Does my policy cover earthquake damage?

No, your homeowner’s policy does not cover damages caused by earthquakes. However, if you have earthquake coverage your losses may be covered under the policy.

Does my homeowner’s policy cover damages caused by a flood?

Most insurance companies do not provide flood damage coverage. However, some homeowner’s are able to obtain a flood insurance policy through the federal government’s National Flood Program (NFP). If you have a policy through the NFP, you may be able to receive compensation for your losses.

My house was destroyed by a fire and I lost all of my belongings. I’m trying to recover my losses, but my insurance provider says that I need an inventory. Can they do that?

Yes, they can ask for an inventory. Whether the your homeowners policy pays for the replacement of the items or just gives you the cash value, the company only has to pay for the property that you can prove that you owned at the time of the fire. It is a good idea to update your inventory on a regular basis and keep it in a secure location. Also, it is helpful to take color photos of each room in your home and keep them in your inventory.

If you have any questions about your insurance coverage that was not answered in the homeowner’s insurance FAQ, complete the contact form on the right.

Insurance Claims Attorneys

the Arguello Law Firm has helped numerous clients receive compensation for their insurance claims.

If you believe that your insurance company has unfairly denied your claim or offered you inadequate compensation for your losses, contact our law firm today.

To speak to an attorney about your homeowners claim, fill out the CONFIDENTIAL EVALUATION form on this page.