Anyone who has ever purchased an insurance policy probably understands just how confusing the terms can be. In many cases, what is and is not covered is not always clear. This can lead to very frustrating situations in which a Washington policyholder makes what he or she thinks is a legitimate claim, only to be told by the insurance company that it is not. A potential lack of insurance coverage is the exact situation that some men and women are facing right now.
In another state, many people’s homes were flooded after a man-made dam failed. More than a billion gallons of water flooded into a number of homes, and was even strong enough to knock down granite countertops. In some areas the water mostly came through basement drains instead of doors or windows, which destroyed water heaters, furnaces and some family heirlooms.
When these homeowners turned to the insurance company for help, many of them were told “no.” Insurance companies pointed out that since the homes were not built in flood zones, the victims did not qualify for help unless they had purchased flood insurance with their mortgages. Insurance companies also insisted that the flood was a natural disaster even though the source was a man-made dam failure. Some homeowners were offered $2,500, which will not make much in the debt in people’s estimated $10,000 to $30,000 of repairs.
Some homeowners in Washington are just not sure which type of insurance coverage they need. It might even seem unnecessary or a waste of money to purchase flood insurance when not living in a flood zone. Unfortunately, there may be unintended consequences to this mindset. So whether trying to decide which insurance coverage is appropriate or fighting the insurance company over a denied claim, those who are unsure of how to proceed might consider speaking with an experienced attorney.