Does homeowner’s insurance cover damage caused by a hit and run driver who smashes into your brick wall fence?
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Asked May 27, 2010
When a claim of this sort is filed, the insurance company will perform an investigation. They will examine the wall and investigate any vehicles owned by your or your immediate neighbors for possible identification of the car that caused the damage. They will also look for other sources of the damage, including such things as simple disrepair. This type of esoteric property damage is commonly used in insurance fraud, the your company will be very careful to rule out foul play.
If the investigation checks out, the insurance company will pay you for the cost of damages after subtracting the amount of your deductible. The settlement will be filed as a loss by the insurance company and will placed in your homeowners insurance record. You may be required to provide estimates from multiple contractors, but the insurance company will probably have the damage appraised themselves.
One of the main considerations you should make is whether the cost of the repairs is sufficient to file an insure claim at all. If the repair will only be a slight amount above your deductible, you can avoid filing an insurance claim altogether. The more claims you file, the higher your insurance rates may be, and excessive claims can lead to being dropped by your insurance company. It may be better to shoulder the lesser cost of a fence repair yourself, and reserve using your insurance for more serious incidents.
Answered May 27, 2010 by Anonymous