My house is sinking. Will my homeowners insurance pay for damages?
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Me and my wife bought a vehicle in 2010. We got a loan from our bank and paid the owner. She moved and we lost contact before we could get the title. We paid off our loan and maintained insurance and registration on the vehicle. My wife recently totaled the vehicle in an accident that was the other drivers fault. That insurance company came and took the car and gave us a value that they would be paying us. A week later they called and said they couldn’t pay us. We can’t afford to take this loss and I have no idea what I can do.”
Asked February 3, 2016
1 Answer
Whether your homeowners insurance will pay for damages caused by your house sinking depends on the cause of the sinking and the terms of your insurance policy. If the sinking is due to a sudden and unexpected event, such as a burst pipe or an earthquake, your homeowners insurance may cover the damages. However, if the sinking is due to a long-term issue, such as poor soil conditions or structural problems, your insurance may not cover the damages. It's important to review your policy and speak with your insurance provider to understand your coverage and any exclusions. Some policies may specifically exclude coverage for damage caused by soil movement, ground settling, or other earth movements. Additionally, some policies may have limits on coverage for certain types of damages or may require you to purchase additional coverage for certain risks. If you are experiencing sinking or settling issues with your home, it's important to address the underlying cause as soon as possible to prevent further damage. Contact a licensed and qualified contractor or engineer to assess the situation and determine the cause of the sinking. Depending on the cause, you may need to make repairs or take corrective action to stabilize the foundation or other structural elements of your home. If your insurance policy does cover the damages, you will need to file a claim with your insurance provider. Be sure to document the damages and keep all receipts and invoices for repairs or other expenses related to the sinking. Your insurance provider may send an adjuster to inspect the property and assess the damages before processing your claim. In summary, whether your homeowners insurance will cover damages caused by your house sinking depends on the cause of the sinking and the terms of your insurance policy. It's important to review your policy, speak with your insurance provider, and take appropriate action to address the underlying cause of the sinking to prevent further damage.
Answered February 5, 2016 by Anonymous