Aaahhh…the piece of mind of homeowner’s insurance. It’s a definite must-have form of protection for homeowners everywhere. Hold on there, before you get too smug, are you sure you are covered for the most essential issues? Since for most of us, our home is our single largest investment, it pays to be informed. Even though having home insurance is a requirement in most states, a standard policy may not cover all the bases. If you are not sure, review your policy and keep in mind that the following are the most frequent claims. A blog on the most common insurance claims written by Austin, TX real estate professional, Joe Cline was recently published on the Realtor.com site. Here they are:
- Water Damage – Don’t think this is just for people that live in flood prone areas or Hurricane Alley. Water damage has many faces, including problems caused by burst pipes, leaky roofs, overflows from bathtubs, and faulty appliances.
- Accidents – Have you ever heard that most accidents happen at home? Remember that you are responsible if any one is injured on your property. In our litigation-happy society, it pays to play it safe. From friends, relatives, kid’s playmates, to handymen, make sure any possible harm they could come to on your property is covered under your homeowner’s policy.