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Insurance companies continue to change their policies. You would hope that they are adding more coverages but this is simply not the case. Often the old policies have more inclusive coverage and better rates. For example, many policies now will limit coverage for cosmetic damages. So, your house could be destroyed in a hail storm but if it is only cosmetic your house may be left looking like a giant golf ball. They will also limit exposure to asbestos and hazardous material abatement and you may be having to come out of pocket or do it yourself. Newer policies are also trying to force Actual Cash Value Policy's this means they will not pay for what it costs to replace damaged items only what they are worth after the years of depreciation. For example, carpet is estimated to last 10 years. So, if your carpet is 7 years on an actual cash value policy you will only get 30 percent of the cost to replace it and then take out your deductible.
The final risks to changing insurance policies are that if you have a claim in the first-year insurance companies will often investigate you for fraud. This happens on a regular basis given that someone that files a claim early on may be trying to claim old damage, or just collect insurance money.
Claim Rangers helps homeowners get what they are owed by their insurance policy. On average we reclaim 7x more than you can on your own.
To learn more visit www.claimrangers.com