If you have several ‘spare’ hours and perhaps a law degree, then reading and understanding your homeowners insurance policy should not be a problem, right? Wrong! The majority of policy holders do not fully comprehend the terms of their policies and when faced with property loss or damage, still ask the timeworn question: What does the insurance cover?
The purpose of homeowners insurance is to reduce your financial liability against risk. Risk is defined as a probability or threat of damage, injury, liability, loss, or any other negative occurrence that is caused by external or internal vulnerabilities. The insurer agrees to indemnify (compensate) loss or damage as long as the insured take preemptive action to reduce risk and protect their own property.
The following is some basic information concerning homeowners insurance:
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The team of Public Adjusters at Morgan Elite Specialist Services have over 25 years of experience in the insurance industry. All of our adjusters are licensed and bonded by the Department of Insurance and are required to take continuing education courses annually.