Will our home insurance protect us when we need it?
 

How can we be confident our home insurance will protect us in Florida? :mad:
https://wapo.st/3q9GlnD

You’re doomed…suggest u move back north

Don't buy from a small company, buy from the largest company you can find. The smaller companies doesn't have the depth of resources and don't buy enough re-insurance as that would eliminate their profits. .

I would highly recommend your insurance covers the roof. If lightening or a hurricane damages your roof then destroys more of your home, Sorry! not covered would be their response. Talk about those ramifications with your agent before buying the policy. Insist he/she puts it in writing if they say you are covered without roof insurance. My agent told me if the damage was caused initially with the roof any other damage would not be covered. Always ask questions before buying.

Facts and circumstances are different for each claim. Company reputation and capitalization can matter. Never had an issue with State Farm

Good to hear

Have you ever had major damage to your home from lightening hurricanes, wind, or others? Just asking because I will get a policy from them. Some insurance companies argue the cause of damage instead of just paying the claim.

It starts will the inspector and if he doesn't approve you can sue like so many roofing companies do for customers.

Allegedly insurance companies don't like to fight lawsuits hence why they cave to the roofing companies.

So instead of fighting the lawsuits they just pass the losses down to policyholders.

Great system we have.

Like any insurance, you can pay premiums for years, file one claim
and get rejected.

The key here is be so wealthy that you can be self-insured.

A claim over 200,000 was paid promptly without hassle.

My insurance co. in Wisconsin I had for 38 years refuse to pay out anything after my sump pump stopped running and
flooding our basement 7 years ago with 3 feet of water.

They claim they sent all policy holders a notice to get a "rider" added on our policy for sump pumps but
we never seen one.

We lost around $30,000 to replace the furnace, freezer, hot water heater, and a lot of personal belongings.

So much for having insurance

I was in the business and would question what your agent said. Almost all homeowners policies are known as all risk coverage. They provide coverage for everything except certain situations like war, wear and tear etc. If wind damages a roof or if something hits the roof the roof is covered and the damages inside are covered. Do not know of any policy which would not provide coverage for something like a roof. Policies will not pay for a roof if it wears out.

Feel lucky to have a major nationwide highly capitalized company. Most Floridians would love to have a policy with State Farm or another similar companies.

From your information appears there was a flood and the sump pump did not work properly. If this is correct, you would have been paid if you had flood insurance. Sump pump failure was not the cause of the loss.

Unfortunately I have to agree. They have no problem cashing those premium checks but hedge when it comes to any payout after large deductible