Last month we published an article about how to relieve tension between homeowners and their insurance companies. It told the story of how Glenn Duxbury was able to help resolve a difference of opinion between the two parties.
With that in mind, we wanted to follow up with even more information for our clients on how insurance companies work, specifically what makes them nervous.
It is important to know what sets off alarms bells for them when assessing your home or building, in order to avoid situations that may potentially cost you big money down the line or result in you being refused coverage.
We’ve put together a short checklist of things that make insurance companies nervous, so you can help keep the peace.
- Water escape
- Water damage (by any other means)
- Water ingress (i.e. roofs)
- Liability exposure (safety)
- Age and type of piping
- Age and type of electrical wiring
- Exterior items prone to wind-damage and/or detachment by other means
- Adjacent trees and such, close enough to cause damage
- Old building and homes (potential for DIY changes and add-ons)
- Endless deferred maintenance
- Interface fires (currently a high-risk in some areas)
- Poor or no safety reviews of business operations and homeowner/landlord “blindness”
This list is meant to give you a better sense of how insurance companies work and what they look for when assessing your insurance coverage. If you keep these things in mind, you are more likely to avoid conflict with your insurance company, which is good for everyone in the long run and could end up saving you a significant amount of money, not to mention headaches as well.