How to Discuss Your Home Insurance Policy with Your AgentMississippi Legal News
For many people, the most expensive and valuable part of their portfolio is their home. Protecting that investment is extremely important. When you are shopping for a home insurance policy it is critical that you understand what exactly a policy covers. You will need to know that you and your family will be fully covered and protected should an unforeseen event lead to a catastrophic issue with your home.
Insurance companies, though, are not well-known for their high ethics and moral standards. Even though an agent will come off as caring and friendly, they are still employees of the insurance company they work for. Because of this, their goal is always to reduce costs for the company. This means when a claim is made, an insurance adjuster is going to try and pay as little as possible or deny claims when achievable.
Because insurance carriers often consider their bottom line instead of actual damages that result from a destructive incident when making coverage decisions, claimants can be put in a position where they may be treated unfairly. If you believe that your insurance provider responded to you in bad faith, connecting with an attorney could be worth your while. In Jackson, MS, Germany Law Firm, PLLC has an experienced Jackson bad faith insurance attorney that can help you take action against your insurance provider.
Important Points of Your Home Insurance Policy to Discuss with an Agent
First, weather is unpredictable and devastating incidents can happen at any time. We see stories all year long of volcanoes exploding, hurricanes that come sweeping through, wildfires spreading, floodwaters rising, and more. Depending on where you live, your home may be more vulnerable to potential damages from weather events.
Still, any home can be damaged by a cataclysmic weather event. This is why it is so crucial that you discuss how weather events are covered by your policy. Specifically, what kind of weather events are included in your coverage and which ones are not. Then, what happens if one of these events takes place.
In addition to severe and damaging weather events, other parts of your policy should be explored. Including:
- Replacement Cost Value is protection that makes funds available to the policyholder for possessions that have been damaged.
- Actual Cash Value is protection that assesses the value of your property at the time the damage took place. When determining ACV, the cost of your property in the current market minus how old it is and what shape it is in will be calculated.
- What your deductible is, or the upfront money you must pay before your insurance kicks in.
- Learn if insurance endorsements exist.
- Understand what exclusions are present.
Speak to a Mississippi Bad Faith Insurance Attorney Today
The Jackson injury attorney at Germany Law Firm, PLLC can help you fight back if your insurance provider has failed to uphold your agreement. Insurance companies are going to try and underpay you if they can. The experienced bad faith insurance law firm at Germany Law Firm, PLLC can discuss your case with you during a free consultation. Call today to schedule your consultation with Germany Law Firm, PLLC at (601) 487-0555.