Based on recent statistics, it is believed that home insurance claims have the lowest success rate of all of the insurance claims. However, in the case of the car insurance claims, there is a ninety nine percent success rate but seventy nine percent out of the ninety nine percent tends to get paid out by the insurance companies. This means over one fifth of such claims are not successful. Knowing the reasons insurance companies deny fire claims still doesn’t means they are going to pay out.
What it would only do is help boost your chances of getting paid and we want you to continue reading this interesting article as it would show you some of the reasons why insurance companies do not pay attention to some fire claims and also ways that you can be prepared when filing a fire claim.
Reasons Insurance Companies Deny Fire Claims
If a claimant fails in having an adequate coverage then he stands the risk of having his fire insurance claims denied. This is likely to be the case of the cause of the fire was accidental and the truth is there is really no insurance policy which covers for accidental fire damages. This is why we always advice that before you go out and file a fire insurance claim, make sure that you have a very good understanding of what your insurance covers.
Case Of Suspected Fraud
If there is a hint that an incorrect information has been given out and even if this wrong information was given out mistakenly, the insurance company might use it against you and deny your fire insurance claims. Your fire insurance claims can also get denied if the insurer suspects that you are not being truthful about the details of the fire. The fire insurance claims that you have filed can also get denied if the insurer has reasons to believe from your own story that you must have started the fire yourself.
Failure In Disclosing Material Facts
One thing you should keep in mind is that giving out incorrect information isn’t the only reason your fire insurance claims can get denied. If you are found guilty of withholding information which can be useful or be of help then you can also have your claims denied. The information withheld might also involve information provided when you signed up for your insurance policy or while you were making your fire insurance claims.
You should be very truthful and make sure you do not lie or try to withhold any information as it places you in the spot of having your claims denied.
No Evidence Or Documentation
If you are making a claim to your insurer, your insurer is definitely going to need some evidence or documentation that would help in backing up your claim. This evidence would however be investigated by a claims adjuster before it can be approved and if the evidence provided is not sufficient in backing up your claims then prepare to have your fire insurance claims denied too.
Not Meeting Up With Insurance Premium
Failing to meet up with the installments that you have in your insurance premium is also likely to force the insurer to deny your fire insurance claim or any other claim you filed. This is why it is always important that you keep up with your insurance payments so it would not get to affect your claims if the need arises for you to file for one.
Your Inability To Follow Up The Process Or Late Notification
It is also very important that you bring your insurer up to speed when you want to file a claim because any delay in doing so would greatly reduce or hinder your chance of being listened to. There are certain steps that you would need to follow when processing a claims and we have already discussed that in previous posts.
Ineffective Smoke Alarms
If you do not maintain an effective or active smoke alarms or you do not bother to check if they are functional then it could also lead to your fire insurance claim getting denied by the insurer. It is very important that you check from time to time if your fire alarms are functional especially if you have stated in your insurance policy that you have smoke alarms in your home or you also stand the chance of having your claims denied.