Top Causes of Invalidated Home Insurance Claims
As a homeowner, it’s no secret that having adequate home insurance helps ensure ultimate protection against unexpected property disasters. However, recent research revealed that UK homeowners might not be as protected as they believe to be by their property cover. In fact, the Association of British Insurers reported that an average of 20 percent of home insurance claims are rejected by insurance providers each year.
Don’t be the next victim of an invalidated home insurance claim. Have a look at the following guidance to avoid suffering from a payout problem:
- Ensure correct valuations—Insurance experts confirm that nearly 11 million UK households are unsure whether they have valued their property possessions correctly on their policy. While valuing your home possessions incorrectly won’t invalidate a potential claim, it leaves you uninsured in the event of a disaster and guarantees that you won’t be able to claim the full value of your items. Be sure to regularly review your home’s possessions to ensure correct valuations on your policy.
- Use proper security controls—Burglary is consistently one of the leading causes of home insurance claims. But a property theft claim can still be rejected by insurers if you fail to implement reasonable security measures for your home—such as leaving doors or windows unlocked, hiding keys in unsecured places or not activating your security alarm.
- Restore with caution—Although you have a duty to keep your home in a proper state of repair in the event of a home insurance claim, be wary of your restoration risks. Most policies won’t protect you against damages caused by a DIY project gone wrong or other home improvement mishaps.