Don't Ignore Small House Problems! It Could Impact Your Insurance Coverage

Insurance Covers the Unexpected, Not Neglect:

Recent statistics indicate that over 95% of U.S. homeowners have homeowner's insurance, partly to protect against significant losses and often because mortgage lenders require it. While some might believe they can delay repairs and file an insurance claim when the problem worsens, it's a risky strategy. In fact, postponing necessary repairs can jeopardize your homeowner's insurance policy.

Beth Riczko, President of Nationwide's P&C Personal Lines, emphasizes the importance of protecting your property from further damage when a known issue exists. When you delay addressing a problem, such as damaged roof shingles leading to interior damage, you may not only find your insurance unwilling to cover the initial issue but also the subsequent damage. Your insurance company may also insist that you resolve the problems immediately or threaten to cancel your coverage.

So, if you spot any needed repairs around your house that could reasonably have been noticed and ignored by you, it's crucial to take action before they escalate. Here are some tips to tackle these issues:

1. Do It Yourself (DIY): If you're handy, allocate some time to address the problem as soon as you're aware of it, no matter how busy you are.

2. Learn and DIY: If you're not particularly handy, consider exploring how-to videos on platforms like YouTube. You might be surprised at how many issues you can resolve with a little free online know-how.

3. Find Reliable Help: Seek out a contractor or handyman in your area. Ask friends for recommendations or consult local social media forums for suggestions. This can help you discover trustworthy professionals and get insights into pricing.

4. Consult Your Real Estate Agent: Your real estate agent can be a valuable resource for recommendations and may even offer advice on enhancing your home's value during repairs.

In summary, if you've been neglecting minor home issues, it's crucial to address them promptly. Otherwise, your homeowner's insurance might not cover more extensive damage resulting from your failure to address these smaller problems over time. Don't let procrastination put your coverage at risk!