Many homeowners are unaware of policy provisions contained within their homeowner’s insurance policy that may result in the insurance company voiding their insurance coverage after a claim is tendered to one’s insurance company. As such, it is important for a homeowner to obtain a copy of his or her insurance policy when making a claim to be aware of any pitfalls that may result in coverage being voided.
First, the insurance policy may require that you send to your insurance company, within 60 days, a signed sworn proof of loss setting forth your damages and support for your claimed damages. Failure to comply may result in your insurance coverage being voided. Support for your claim could include bills, receipts, and related documents that justify the figures submitted for payment. A homeowner may consider taking photographs of one’s dwelling and personal property and keeping said documentation, along with receipts, in a safe place in case of an unfortunate event in the future. This would allow the homeowner to better recollect property lost or damaged and provide proof to the insurance company regarding these property items.
Second, your insurance company may request that you attend an Examination Under Oath. During the examination the insurance company, or its legal counsel, may question you regarding many aspects of your claim. While you should always be honest in all of your answers, it is important to note that some policies may void coverage if the insured conceals or misrepresents any facts, whether material or not, or engages in fraudulent conduct, or makes false statements relating to their insurance claim. Kentucky courts have held that misrepresentations regarding a loss may void your entire insurance policy. Hence, it is critical that the insured understand the questions being posed and answer the question honestly. If an individual does not understand the question being asked or does not know the answer, then he or she should not guess, as it could be wrong and this answer could be viewed as a misrepresentation or false statement that could void your insurance coverage.
And don’t think that the nice courteous lawyer is really just seeking information from you. Chances are that he or she already knows a lot more about you than they will let on. The goal may really be to get you to trip up in your examination, because you failed to state that you had a bankruptcy in your past, for instance. Then you will have an insurance company that says your claim is VOID, even though your misstatement was irrelevant.
One should also review their insurance policy to better understand whether there are any special limits for select personal property, and whether the policy may provide coverage for damages the insured may be unaware of at the time of loss. For example, if one has a fire loss, the policy may provide for additional living expenses, paying off your mortgage, debris removal, land restoration, etc.
If you are having issues with your insurance company regarding an insurance claim, please feel free to contact Mehr, Fairbanks & Peterson Trial Lawyers, PLLC at (859) 225-3731 for a free consultation.
First, the insurance policy may require that you send to your insurance company, within 60 days, a signed sworn proof of loss setting forth your damages and support for your claimed damages. Failure to comply may result in your insurance coverage being voided. Support for your claim could include bills, receipts, and related documents that justify the figures submitted for payment. A homeowner may consider taking photographs of one’s dwelling and personal property and keeping said documentation, along with receipts, in a safe place in case of an unfortunate event in the future. This would allow the homeowner to better recollect property lost or damaged and provide proof to the insurance company regarding these property items.
Second, your insurance company may request that you attend an Examination Under Oath. During the examination the insurance company, or its legal counsel, may question you regarding many aspects of your claim. While you should always be honest in all of your answers, it is important to note that some policies may void coverage if the insured conceals or misrepresents any facts, whether material or not, or engages in fraudulent conduct, or makes false statements relating to their insurance claim. Kentucky courts have held that misrepresentations regarding a loss may void your entire insurance policy. Hence, it is critical that the insured understand the questions being posed and answer the question honestly. If an individual does not understand the question being asked or does not know the answer, then he or she should not guess, as it could be wrong and this answer could be viewed as a misrepresentation or false statement that could void your insurance coverage.
And don’t think that the nice courteous lawyer is really just seeking information from you. Chances are that he or she already knows a lot more about you than they will let on. The goal may really be to get you to trip up in your examination, because you failed to state that you had a bankruptcy in your past, for instance. Then you will have an insurance company that says your claim is VOID, even though your misstatement was irrelevant.
One should also review their insurance policy to better understand whether there are any special limits for select personal property, and whether the policy may provide coverage for damages the insured may be unaware of at the time of loss. For example, if one has a fire loss, the policy may provide for additional living expenses, paying off your mortgage, debris removal, land restoration, etc.
If you are having issues with your insurance company regarding an insurance claim, please feel free to contact Mehr, Fairbanks & Peterson Trial Lawyers, PLLC at (859) 225-3731 for a free consultation.
Comments