Homeowners insurance can become expensive over time, and providers have been known to raise rates regularly after having to pay out claims. One way that some homeowners try to avoid these problems is by paying to have various kinds of upgrades, improvements, and renovations done. Some common examples are windows and shutters to protect against damage from wind, rain, hail, and hurricanes, getting a new roof installed that has weather-resistant features, and investing in additional security for the home. After these improvements are made, the homeowner can ask their provider for a review of their policy and a discount on the amount that they pay. Why do the rates decrease?Insurance rates are calculated based on risk factors. Because newer materials and safety features tend to make serious damage less likely, insurance companies will reduce the rates of homeowners who have invested in various kinds of improvements. These upgrades tend to be a type of risk mitigation, which will help the home avoid some of the most serious losses that can be associated with severe weather, theft, and other problems. The insurance company sees the homeowner as less likely to file a claim or have a major loss based on their improvements. This tends to reduce the costs associated with insuring the property, and some of these savings are passed onto the customer. 

Scaffolding in front of home; image by Brett Jordan, Unsplash.com.

Filing a homeowners insurance claimEven with various upgrades, it is still possible that a homeowner will experience damage and need to file a claim. The claimant should document their damage and follow the insurance company’s instructions. There may also need to be a review of the damage by an adjuster. If the claim is successful, the homeowner will receive funds that help make any required repairs. There may also be a required deductible that must be paid before the insurance company will start to cover the damage. The deductible amount can change based on the specific amount of money that the homeowner is paying into their policy. Claim denialsThe unfortunate reality of filing homeowners insurance claims in Kentucky is that not all claims will be approved. Some homeowners may find that their policy does not cover certain types of damage. Other times, the insurance company will make serious mistakes or deny legitimate claims. If it seems that the provider may be acting illegally, it is important for the homeowner to contact an attorney and try to get some kind of help. Help with insurance problems in KentuckyUSAttorneys.com is a website that lists insurance lawyers in Louisville and other cities around the country. Anyone who needs help with homeowners insurance issues can use the directory to get more information from a local licensed attorney.