Augusta
VIP Contributor
When you don't do a thing right it comes with it consequences. So it is good to always tske out the right insurance value for your home insurance policy, not doing this and you are underinsured will bring its consequences.
So what are the consequences that comes with underinsurance
Insurance value not covering total loss.
The fact remains that no home policy insured want to hear when they want to claim that their insurance won’t cover their total loss. But this what would happen if you were underinsured. They are damages and issues that the value of your insurance wouldn't cover.
insurer not paying full value of claim
Another consequence of underinsurance is the insurance company refusing to pay the full value of ones claim. So the insurance company will only focus on the value of the insurance you adopted so this means a lot will be done out of pocket since the insurance contract stipulate this.
Payment of a portion sum by insurer
When it comes to being underinsured it can mean that your insurance company has decides to pay only a proportion of the sum you're claiming for. Yes if that was the agreement which might be, then it within the insurer rights to do so.
.
So what are the consequences that comes with underinsurance
Insurance value not covering total loss.
The fact remains that no home policy insured want to hear when they want to claim that their insurance won’t cover their total loss. But this what would happen if you were underinsured. They are damages and issues that the value of your insurance wouldn't cover.
insurer not paying full value of claim
Another consequence of underinsurance is the insurance company refusing to pay the full value of ones claim. So the insurance company will only focus on the value of the insurance you adopted so this means a lot will be done out of pocket since the insurance contract stipulate this.
Payment of a portion sum by insurer
When it comes to being underinsured it can mean that your insurance company has decides to pay only a proportion of the sum you're claiming for. Yes if that was the agreement which might be, then it within the insurer rights to do so.
.
