Climate change is already impacting cities worldwide, albeit in different ways. Some regions are becoming historically dry, making them more prone to forest fires. In others, rising water levels increase the risk of flooding.
These may be different threats, but climate change is their underlying cause. Unsurprisingly, the rise of natural disasters has major implications for home insurance. Let’s check out a few things every homeowner should know to stay protected.
Not All Fires and Water Damage Are the Same
Buying home insurance is all but mandatory for obvious reasons. The home is where people live with their family, and it’s a major long-term financial asset. Do not make the mistake of assuming that home insurance covers you for every type of possible damage, even if the causes seem related.
For example, home insurance may cover a house fire caused by sources on the property, an adjacent property, or a natural disaster, such as lightning. Whether you are covered for wildfires depends on the specific terms of your policy.
Likewise, your home may be covered for water damage from a burst pipe, but not rising water levels. Each case is different, so it really helps to go through your policy with a fine-tooth comb. An insurance lawyer can help you understand the fine print of your policy so that you can be sure you are protected from all risks that may affect your home.
The Insurer’s Offer Isn’t Final
If your home suffers from climate change-related damage and the insurer agrees to compensate you, their offer isn’t necessarily final. Hiring an insurance lawyer, like those at ViraniLaw.ca, can help you negotiate a higher settlement.
Having insurance cover the structural damage to the home is different than the company paying to replace the personal belongings damaged or destroyed. You’ll also need compensation for living expenses while your home gets repaired.
After disaster strikes, an insurance adjuster working for the insurance company or a third party will inspect your premises to determine the cost of repairs and the Scope of Loss. They work with a builder, contractor, and maybe an appraiser to determine the extent of compensation required.
Insurance lawyers work for you to push back and negotiate on your behalf.
Experienced Advocate in Your Corner
Insurance lawyers are familiar with all the industry tactics and the paperwork involved, which can be complex and time-consuming. Making sure this is done accurately can affect how your claim is handled and settled. If there’s ever a time you’re not in the mood for labyrinthine paperwork, it’s after your home suffers a catastrophe.
Some insurance companies bank on the paperwork causing delays, so they can justify paying you a smaller settlement. If you dawdle with the paperwork, it doesn’t matter whether it’s because you’re emotionally processing the damage to your home, or the paperwork was too complex.
You will be glad to have an advocate on your side who understands how to submit the paperwork properly and knows the timelines involved. They will guide you safely to the other side, streamlining what would otherwise be an annoying, cumbersome process.
Home insurance is supposed to deliver peace of mind, but if there are growing environmental risks you aren’t covered for, you may get a very harsh surprise. In the era of climate change, it’s wise to use an insurance lawyer to maximize your home’s protection.
Article Submitted By Community Writer
