PROPERTY INSURance

 As the policy holder, you must ensure that you’re not negligent in any way, as no insurance provider will pay for a policy holder’s negligence. For example, if you identify a problem in your home, (e.g. a leaking water pipe), you must do all you can to rectify it, as failure to do so may result in your insurance provider rejecting a claim you submit in respect of any related damage.

In other words, if the leaking water pipe bursts and ruins a number of carpets in your home, your insurance provider may not pay for the cost of replacing these carpets as it could be argued that the damage was caused as a result of your not having the leaking pipe repaired.

Similarly, if your bedroom ceiling falls in and you fail to have it repaired for a significant period of time, while your insurance provider may reimburse you the cost of having the ceiling damage repaired, it might not pay to put right any problems that subsequently arise as a result of the repair not having been carried out as soon as reasonably possible.

Reading and understanding your homeowner’s insurance policy will mean you’re better informed to make decisions about the level of coverage you currently have as well as what you might need in the future. You will also have peace of mind that you’re fully protected.