A woman woke in the middle of the night to her home on fire. She escapes unharmed but the house is lost. Later, an investigation discovers her husband is guilty of committing arson. She and her husband are the homeowners but plan to divorce with her staying in the home. They had home insurance so she put in a claim. But with her husband intentionally setting the house on fire, is their coverage still valid? With her being the innocent party, will the insurance company pay the claim? This happened in California, but in this state and a growing list of others, the answer is yes.
In the past, innocent spouses got nothing for a jointly owned home because of the wording in a policy. Coverage was denied due to the actions of the co-insured. This was most likely done to keep the guilty party from benefiting. But now, decisions in court are making it easier for the innocent party in a fire to still have coverage in their homeowners’ policy.
When dealing with home insurance there some important things to know. Home insurance helps to protect one of your biggest investments and it is important that you get the right homeowners insurance for your needs. Local independent agents such as Filer Insurance have the experience, knowledge and connections to source best value home insurance for homeowners in Coral Gables, Miami and Pinecrest.
The first and most important thing to know about homeowners insurance is what you are covered for and what you are not covered for. For example if someone breaks into your home and steals your stuff you will expect your content insurance to cover you. Some content is included in a standard homeowner’s policy, but then again not all content. Certain valuables have to be specified separately. Your home insurance policy may also have requirements that relate to alarm systems and security measures. What if your home is damaged in a flood? Most homeowner’s insurance policies exclude flood damage. You need separate flood insurance. What about other natural disasters – are you covered?