The 6 Most Common Home Buyer’s Insurance Claims

Protecting your property is important, so understanding every aspect of your home buyer’s insurance policy is crucial. You may be wondering what types of claims are covered under your insurance policy and how common these claims are. Here are the six most common types of claims that you should make sure you’re covered for.

The 6 Most Common Home Buyer’s Insurance Claims

1. Wind or Hail Damage

Weather issues that result in damage from wind or hail are the most common home insurance claim that occurs. The good news is that although this type of claim is common, they tend to not be very expensive in terms of the damage done. The repairs needed tend to be very minor, so neither you nor your insurance provider will have to pay too much to make necessary repairs.

2. Water Damage

A leaky appliance or burst pipes due to freezing temperatures can cause significant damage to your home. This water damage gets even more severe if the problem is left unchecked as the water will continue to spread and damage more of the outlying area. Water damage claims are common and also tend to be quite costly to repair.

3. House Fires

The third most common home insurance claim also tends to be quite expensive, as fire can cause extensive damage that is often widespread throughout the property. These claims also include cases where a home is struck by lightning. The good news is that home insurance policies were designed to handle fire claims, so you’ll be covered for this damage as long as you have adequate coverage.

4. Theft Compensation

While we like to feel a sense of security in our homes, there are cases where malicious people might break into your home to steal valuable property inside. Home insurance policies can reimburse you for your lost property if you have the relevant coverage. The good news is that these claims are quite rare, but it’s good to know that you’re protected for this unfortunate event.

5. Liability Claims

When a guest is injured or damages something of theirs while on your property, you may be liable for expenses related to those damages. Liability coverage in your home insurance policy can cover these expenses so you don’t have to pay them out of pocket. Liability claims are quite expensive, but also tend to be relatively rare.

6. Miscellaneous Issues

The remainder of home insurance claims are comprised of a variety of different miscellaneous claims. Things such as a tree falling onto your property or a vehicle accidently backing into your garage door are included in this category. Consult with your insurance provider to find out exactly what your policy covers.

Looking for an insurance policy that will protect you through all of the unexpected events life might throw at you? Our comparative tools will help you search for coverage that meets all your needs while also helping you get the best deal possible. Start your search on Absolute Choice Insurance today!


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