If you are a homeowner or about to be one, you may wonder how to best protect your home from the unexpected. One place to start is by making sure you have proper homeowners insurance. Homeowners insurance consists of multiple policies that usually includes coverage for the structure of your home and your belongings, liability protection and additional living expenses.   

Are Foundation Problems Covered by Homeowners Insurance? 

Dwelling coverage is part of your homeowners insurance policy that can help with structural claims. Dwelling coverage will likely cover foundation damage caused by covered perils, but it will not cover damage due to negligence or general wear and tear. A homeowner is responsible for staying up to date on home maintenance that can prevent risks.  

Is Homeowners Insurance Required? 

Homeowners insurance isn’t legally mandated in any state, but mortgage lenders are allowed to require it. Most mortgage lenders require buyers to provide proof of homeowners insurance before closing on the mortgage. Homeowners insurance can be a way to secure the lender’s investment if a weather event, wildfire or another disaster badly damages the home. 

Is Hazard Insurance the Same as Homeowners Insurance? 

Hazard insurance is another name for dwelling coverage. As previously mentioned, it is just one component that makes up a homeowners insurance policy. Hazard insurance can help provide coverage for the physical structure of your home due to a covered peril, some of which may include:

 

• Fire

• Hail

• Lightning

• Theft

• Vandalism

• Fallen trees

• Explosions

How Does a Homeowner Insurance Claim Work? 

Insurance carriers can handle claims in various ways, but some of the basic steps include the following: 

1. Report your claim. It’s important to contact your insurance provider as soon as possible to report your claim. 

2. Work with Your Insurer on damage inspection. Your insurance provider will typically discuss the incident and possibly make arrangements to inspect the damage in person. 

3. Document your losses in detail. Make a list of everything damaged in your home and take pictures and videos of the damage if possible. 

4. Keep your receipts. If you need to make immediate repairs to protect your property from further damage or you need to relocate temporarily, be sure to save those receipts. You may be asked to provide them as part of the claims process. 

5. Receive a payment. If the claims professional determines that the damage is covered by your policy, you will likely receive payment based on an estimate of the damage. 

Keep in mind that the procedure of every individual claim may differ due to the many variables involved. 

Homeowners Insurance in California 

If you are interested in learning more about homeowners insurance, contact Nauertz Insurance Agency. Our agents are committed to helping clients get customized policies for all their insurance needs.