If you own or rent a home or building, you likely have a property insurance policy. Property insurance is a broad term that refers to policies that protect your assets in the event of a loss. Common property insurance policies include homeowner’s insurance, renter’s insurance, commercial property insurance, flood insurance, and business personal property insurance. If you have one of these policies, it’s important to understand common policy exclusions so you know what to expect in the event of a loss and so you can protect your rights.
Here is more information on property insurance, common exclusions, and what to do if you believe your rights have been violated. Keep in mind that Cernitz Law handles property insurance law if you need an expert on your side.
What is Property Insurance?
Property insurance protects your physical assets such as your home, business, and personal belongings from a variety of risks including theft, weather events, and fire. In general, these policies will cover damage to property, loss of income for businesses if a covered event causes business closure, and liability in case someone is injured on your property.
What are Common Policy Exclusions?
Though property insurance covers a wide range of losses, there are some exclusions that you need to be aware of. Though policies may differ and you need to read yours thoroughly, here are some common exclusions:
- Power failure. If your losses are due to loss of power, they may be excluded from your policy.
- Intentional acts committed by the insured or others.
- Natural disasters such as earthquakes, floods, and landslides. You may be able to get a separate policy to cover certain natural disasters.
- Losses due to normal wear and tear or neglect of your property.
- Pest infestations.
- Mold or wet rot.
- Acts of terrorism or war.
- Enforcement of building codes. If you need to upgrade a property to meet building codes, the cost of these upgrades is often excluded.
Not sure if your policy excludes the loss you suffered? Remember that Cernitz Law handles property insurance law and can help defend your rights.
When Should You Call a Property Law Attorney?
A property law attorney can represent you if you feel your rights have been violated or that a claim you filed has been unfairly rejected. If you feel the insurance company is acting in bad faith when your insurance claim has been underpaid, delayed, or denied, you need to reach out to a property law insurance attorney. He or she can consult with you, go over your policy and the decision made by the insurance agency, and determine if you have a case. If you do, your attorney can handle negotiations or a lawsuit to help get you the money you deserve.
Cernitz Law Handles Property Insurance Law
Feel your claim has been unfairly handled? Keep in mind that Cernitz Law handles property insurance law and can help defend you if your rights have been violated. The experienced attorneys at Cernitz Law can examine your claim and policy, give you advice, and ultimately help you get the money you need to make repairs.
