The most popular refrain about why any type of insurance is necessary is simple: peace of mind. This is true whether it is health insurance, life insurance or, for those who own real estate, property insurance. However, as anyone who has ever had to make any type of insurance claim knows, insurance policies can be quite complex, leaving people wondering what type of incidents are covered by their insurance. Could Nevada residents find themselves in a dispute over their property insurance policy?
With the breadth and complexity of property insurance policies, the simple answer to this question is "yes." Residential property owners, in particular, could find themselves wrangling with their property insurance company when they make a claim against their policy. For starters, it is important to determine what exactly is covered by the homeowner's policy. Typically, damage from weather events will likely be covered, as will damages that must be paid to people who are injured on the property. And, water damage or even damages related to incidents of theft may be covered by the homeowner's insurance policy.
When a policyholder makes a claim, the insurance company will usually conduct an investigation which, although it isn't stated in quite so blunt terms, is intended to verify the truth and accuracy of the claim. From there, the insurance company will determine how much should be paid out to the policyholder for the claim.
However, disputes can arise when a claim is denied. Obviously, an insurance policy is essentially a contract. If an insurance company denies a claim, the company is, in essence, stating that the contract does not cover the damage at hand. Fighting back against a denied claim can seem stressful, but it may be worth the effort.