insuranceThere's a deadline to make a claim
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There's a deadline to make a claim

Having a policy on the personal insurance market, you may need to file a claim for insurance when there is significant damage to your property, don't wait too long. Most insurance companies' have on the personal insurance policies a 14-day reporting window to ensure that damage doesn't worsen over time before submitting a claim for insurance.

Missing the claim for insurance deadline would be a loss to the insured. Contact the insurance broker, agent or company as soon as possible, and find out what home insurance covers, your insurance deductible and terms for the claim.

How to proceed with claim for insurance

To speed up the claim process, gather all supporting documents and forward a copy to the claim adjuster on claim for insurance. Do not mail out the original unless requested. Supporting documents such as 

  • a Police statement for break-in claim
  • Video of content and receipts for a fire claim.
  • a death certificate for a life insurance claim

A Claim Investigation on claim for insurance and Insurance Deductible

The insurance adjuster will review your policy and let you know if you can claim for insurance based on your insurance deductible and coverage.

The insurance company may sometimes conduct a claim investigation to ensure no fraud was involved. During a claim investigation, the insurance company may ask for further supporting documents and determine if it will pay a claim or decline it.

What home insurance covers - Review Your Replacement Cost

Understanding what home insurance covers may mean the distinction of having the ability to rebuild your house with proper value on replacement cost and replacing your possessions without suffering financial loss when needed. Homeowners need to do an annual review of their insurance policy to the full replacement cost. Review these costs by maintaining local construction costs, house repairs and remodelling of their possessions. 

What Home Insurance Covers - Property and additional living

A typical homeowner's insurance covers fire, windstorm, hail, water damage, and riots. Additional coverage may include the extra cost of living when the house is under construction while rebuilt or repaired. 

What home insurance covers - legal liability

The standard package for the personal insurance home policy will include legal liability. It covers any members of your loved ones or your pets should they hurt other people or property from legal liability. Most insurance will extend out of a home boundary, but also away from it. 

Understanding what home insurance covers - Umbrella Coverage

The liability insurance coverage can further extend for extra protection by umbrella policies. The umbrella policy is an additional extension to the personal insurance policy for home and auto. It is not an insurance policy covering your "umbrella," but an expression of legal coverage protection beyond home and auto insurance. 

An example here :

If you get $1 million coverage for home insurance, your neighbour sues you for 1.5 million bodily injuries when your dog bites and paralyzes their neighbour's child. The personal insurance "umbrella" policy could help extend the liability coverage to $1.5 million.

What home insurance covers, the insurance deductible and the replacement cost 

Apart from liability, additional living cost, most insurance companies' policy on the personal insurance home insurance policy insuring two main things: 

1. The Re-Construction of the House and 

2. The belonging inside 

To calculate the reconstruction of the house, the insurance company uses several techniques to get the value.

The three most common formulas used to calculate structural of are house.


  1. Replacement Cost.  
    1. Calculating the material and cost to build based on today's' value against the square footage and no depreciation.
  2. Extended Replacement Cost.  
    1. Similar to above but top-up a certain percentage to cater to an increase in construction cost
  3. Actual Cash Value. 
    1. Covers cost to substitute a house minus depreciation prices for use and age.

Insuring a house to value - the accurate replacement cost

It is vital to calculate a building to value and get insurance based on the value to prevent financial loss, especially when needed to rebuild the entire house. That is not the market value, but the price to rebuild. 

There are several tips to consider if a house is up to value for insurance: For a fast estimate on the amount to rebuild the home: multiply the local construction costs per sq foot by the total sq footage of your house. To determine the construction rates in the area, consult the local builders association or a reputable builder. You should also check with your insurance policy agent or company representative. 

Knowing your replacement cost

Factors which will determine the cost of rebuilding your home: construction costs sq footage of the structure type of exterior wall construction frame, masonry or veneer, the style of the home, the number of rooms & bathrooms, the kind of roof, garages, fireplaces, exterior trim along with some other special features like arched windows or distinctive interior trim. Check the value of your insurance contract against rising local building cost EACH YEAR.

Claim for insurance

When it comes to insurance claims, it is not about how knowledgeable or handy a person is. Homeowners need to know several home renovations projects are contrary to the law to DIY (do it yourself). 

There are several reasons why these jobs are illegal for DIY, but mainly because they involve complex codes and processes that need technical licensing, instruction, and equipment.

Examples include water heater replacement, plumbing work, lead paint removal, frame construction, and more. Aside from being lawfully prohibited, performing such projects on one's own might also void guarantees, jeopardize claim for insurance, lower house value, and even hinder resales. 

Many home enhancement projects aren't permitted to do on one's own, and for a valid reason. These include electrical work, luminaire installation, fuel conversions, big tree removal, mould remediation, animal removal, Heating and ac repair, asbestos removal, and more. For example, suppose you want to substitute your electric stove with a gas stove. In that case, you'd need to convert your home's fuel kind, which includes installing gas lines, doing electrical work, and a lot more, let alone strict safety codes to stop chemical explosions. 

Because of this, this is a task for a group of licensed professionals with proper instruction, expertise and insurance coverage. 

Here are a few additional home enhancement projects that require a certified professional: - Old houses and many structures built before 1980 are likely to have lead-based paint on it. If you want to remove lead-based paint safely, you must have the appropriate knowledge, training, tools, and much, of course, licensing. That's since lead is deadly and requires specialized removal methods to guarantee safety. 

Warm water heaters can be dangerous appliances if mishandled. When you need to replace or install a water heater, you will need to have it done by a certified professional. 

It requires strict code obedience, very sensitive electrical work, and gas line management. - This might sound like a simple job, but one wrong move could be severely injurious or fatal. With time, garage door springs lose tension and much need replacement, and many parts of the process of eliminating the old and much installing the new are to discharge and returning the tension. A single slip of the hand may cause the spring to fly in your body, leading to severe injury. - If you're dreaming of an open floor concept, do not just grab your sledgehammer and begin demolition. Some walls are strictly structural, so taking down one could be extremely dangerous. 

For this reason, it requires official building permits. It's vital to employ a general contractor is you would like to remodel or convert a spa.  Talk to your insurance broker to find out what home insurance covers and the insurance deductible amount.


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