People take out homeowners policies to help them recover costs in the event of a loss. Fires, falling trees, and theft are things we all require financial protection. But as we update and upgrade our homes, we could create dangers that our policy may not cover. At Benefit Insurance Services, our professionals are committed to helping members of the Surfside Beach, SC community remains properly insured. We’d like you to consider these common areas where people may put themselves in a position of having a claim denied.
Homeowners insurance generally covers losses from burst pipes or leaks. Faulty plumbing can lead to significant water damage, flood and can create dangerous mold growths. These types of issues are understood by insurance carriers and are factored into the cost vs. risk math these companies use. But when a homeowner takes it upon themselves to update or replace plumbing, carriers may deny a claim. The reasoning is that they base their premiums on the work of industry professionals, not lay people.
Wood Burning Stoves
South Carolina may not suffer winters like the northeast, but a wood stove can take the edge off the chill. Wood stoves require expert installation and adherence to fire and building codes. If you have a fire due to or related to an uninspected wood stove, it’s very likely your claim would be denied. Also, your homeowner’s coverage must account for the introduction of an open flame. Things like wood stoves and fire places should be specifically listed on your policy to ensure you are compensated for any loss.
Improperly installed electricity can lead to fire and electrocution. There is an entire industry of tradespeople that are knowledgeable about safety and building code standards. If it seems like running a line into a dark area to install a light is a good idea, it’s not. If something goes wrong, you could be on the hook for replacing your home, paying an injured person’s medical bills or face a civil lawsuit. Updating electricity is work for trained electricians, and that is what insurance carriers expect.
It’s important to update your policy when changes are made to your home. Being a do-it-yourselfer is wonderful in many instances, but not at the expense of secure coverage. At Benefit Insurance Services, we are available to help members of the Surfside Beach, SC community revise and renew homeowners policies that provide security.