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| *Loan,banking and credit>>>homeowner insurance |
If a person had homeowners insurance before hurricane katrina and their house was destroyed, is it covered? |
If a person had homeowners insurance before hurricane katrina and their house was destroyed, is it covered? The recent controversy is the root of many complaints logged against the insurance companies. The claims adjuster has a tw-fold responsibility...to you and the company tey work for and I bet you can guess who comes first. The answer is yes and no. If they wrote up the damage as wind damage you're covered. If they wrote up the damage as a result of flooding waters, there is limited coverage...usually equal to the amount of sump/sewage coverage you have which is generally 5000. You'll want to check your policy. Keep in mind, your state has a consumer complaint division and an insurance regulating agency. Ask questions, and don't accept just any old answer. If all else fails, contact an attorney to work in your behalf... Remember...the insurance industry is the most proftable industry in the world. How do you think they got that way? Not by being fair... I recommend having a contractor or two evaluate your property to determine the cause of the damage. Get several evaluations if necessary. The insurance companies generaly want proof. To fight them you'll need all the amo you can get... Good luck! Not from water damage . . . I believe flooding in particular. I believe they were only covered if they carried flood insurance. Depends what was covered in the policy! Any homes in the area where hurricane katrina struck the cost of the insurance would be a lot more! http://www.total-knowledge.com/~willyblu... depends ....the insurance companies and home owners are having difficulty determining the difference between "wind" and "flood" damage and that's not only the holdup but also is why the increase in the cost of insurances. Usually people have wind coverage to get their mortgage, but not all people involved in Katrina had flood insurance. I understand people are moving back into the affected areas but very few...and the cost of those houses are increasing, and so next time around the cost to repair the damage will be even more costly, and the insurance companies know just by the lay of the land that New Orleans is still sinking and will always be a prone area for floods, so it's become a real problem. It depends. Most homeowners insurance does NOT cover what is known as "acts of God". If you had an insurance policy that did cover "acts of God" then it would be covered. Otherwise probably not. "acts of God" refers to any natural, unexpected disaster such lightning fire, flash floods, tornodos, hurricanes, mansoons, earthquakes, etc. Though many home owners insurance might cover floods, this is not necessarily an "acts of god" coverage. ..nationwide is on your side JUST won a lawsuit, and they are not responsible for the insurer damage,the poor people lose again....because of water damage .......not wind damage which is covered.......how many millons of dollars have they saved........NATIONWIDE IS ON THERE SIDE................. |
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