What is an Assignment of Benefits?

If your home recently sustained damage covered by your insurance policy, you may be thinking about signing an Assignment of Benefits or AOB. While an AOB can be beneficial in some situations and can save you the hassle of dealing with insurers, it also has the potential to lead to further problems.

Water vs Flood Damage

Many homeowners are surprised to learn that water and flood damage are not the same thing. While your homeowner’s insurance covers certain types of water damage, it will not cover destruction to your home or property caused by flood waters. To receive coverage for this type of damage, you must have separate flood insurance.

Perils Your Florida Homeowner’s Insurance Typically Covers

Homeowners policies fall into one of two categories, either “named peril” or “open peril.” In an open peril policy, all perils are covered unless they are specifically excluded. Since they are more comprehensive, they are also more expensive. The more common type of homeowner’s insurance is a “named peril” policy.

Understanding Florida Debris Removal Coverage

Floods and fires can leave you with the loss of home, furniture, clothing, vehicles, and often the most valuable of all possessions: the family photographs, letters and other irreplaceable mementos. Even as you try to come to terms with all that, there are the mounds of debris left in the wake of all that destruction, including wet wallboard, charred wood, waterlogged carpeting and padding and other damaged parts of the building structure and contents.

Reasons Why Your Insurance Claims are Denied

In the same way you expect your automobile insurance to cover your damages in a car accident, it is reasonable to expect that your property will be covered in the event of a catastrophic event. So, why did your insurance company deny your claim? Here are four of the most common (and avoidable) reasons: