There was some insurance fraud after Hurricane Sandy. Apparently some insurance companies changed engineering reports in order to reduce payments to home owners. This is the exception, not the rule, but this well worth a watch.
When purchasing a homeowners insurance policy, make sure you clearly understand the follow:
– Deductible (straight dollar amount or percentage of property value)
– Have the RCV and ACV explained
– What are you exclusions
– What additional coverage is available for purchase
– For a total loss such as a home that is totaled due to fire or flood, is there a variance between the total payout and total rebuild the same home
Associations who may be able to help it you have a problem with a claim.
– The American Association of Public Insurance Adjusters or http://www.aapia.org
– The National Association of Independent Insurance Adjusters or https://www.naiia.com
– National Association of Public Insurance Adjusters or https://www.napia.com