No one wants their home to get damaged, but the risk is always there. That’s why people get homeowner’s insurance, but it’s a product that people hope they never have to use. No matter what happens, you need to know how to file a successful claim, and you should avoid certain mistakes that can cost you both time and money.

When You Need to File a Claim

Every home insurance policy has a deductible, and it should be taken into consideration before you file a claim. Smaller issues (what many insurance companies call “incidentals”) won’t meet your deductible, and they can give them a reason to raise your rate. You should think twice before you file a claim on these types of issues because it can raise your overall insurance cost. Every claim you file is recorded in a database, and making too many within a certain period could cause insurance companies to flag you as high risk.

If you live in Buford, GA, Town & Country Insurance can help you find a home insurance policy that will meet your specific needs, and we can help you with the entire claims process. Be sure to contact us so we can answer any questions you may have. We would be glad to serve you!

What to Expect from the Adjuster Inspection

Once you’ve made a good assessment of the damage, you will have to present it to the insurance adjuster. He or she will make sure that nothing has been overestimated or that any important details have been missed. You should be careful what you say to the adjuster because this person represents the insurance company, and he or she will look for any reason to reduce the cost of the claim. Be ready to fight during the entire process, and make sure you take plenty of pictures so you can have a documented record.

If you need help filing a claim on a home insurance policy you’ve signed with us, Town & Country Insurance has a team of agents that can help you throughout the entire process. We have been meeting the needs of the residents of Buford, GA for a long time, and we have a reputation of getting results for our clients. Be sure to get in touch with someone at our office, and we would be happy to speak to you about all your insurance needs!

If you purchased an insurance policy with a company that has gone out of business, you have the right to keep it regardless of what happens to the insurer. A special officer from the Georgia Guaranty Association is responsible for facilitating the transition of any active policies once they have shut down.

This level of protection was set in place by the Georgia Guaranty Association Act in 1981, and it was amended in 2012. The process is done under court supervision, and it’s meant to protect Georgia residents from any unfair treatment because of a company’s insolvency or liquidation.

What Happens When an Insurer Goes Out of Business

If an insurer decides to close up shop, the Georgia Guaranty Association will be able to keep your policy in force if the premiums have been paid and there is enough money to cover the cash value. They may cover the policy directly, or they may transfer it to another company. Regardless of what happens, you should continue to pay the premiums. The Georgia Guaranty Association has the same rights and authority as the insurance company, so they can cancel the policy if they have reason to do so.

If you live in Buford, GA, Town & Country Insurance can write many different policies, and we will be able to find a plan that will meet your needs. We can also offer it to you at a price that you can afford. Our agents can help you get the coverage you need, and we can give you advice on all the policies we offer. Just reach out to us, and we would be happy to speak with you!

Types of Policies That are Protected

While many insurance policies are protected under the act, there are some that aren’t, and there are coverage limits on each one. If the company went out of business before July 1, 2012, you could get protection for the following policies:

•    Life insurance policies with up to a $300,000 death benefit and a $100,000 surrender value for each person covered.
•    Health insurance claims of up to $300,000 for every covered person.
•    The cash value of an annuity of up to $100,000 for every annuitant, and up to $300,000 per annuitant if it’s in the payment period.
•    Up to $5 million in group annuity benefits for each annuitant.

The following protection is available if the insolvency occurred after that date:

•    Life insurance policies of up to a $300,000 death benefit and a $100,000 surrender value for every insured.
•    Hospital, medical, and surgical claims, as well as any major medical claims up to $500,000 for every insured.
•    Disability, long-term care, or any other type of health insurance of up to $300,000 for every insured.
•    Any annuity cash value of up to $250,000 for every annuitant, and up to $300,000 if it’s in the payment period.

Regardless of these limits, the amount covered can’t be greater than the original obligation of the insurance company.

If you have any questions about any insurance regulation in the state of Georgia, Town & Country Insurance can answer them for you. We’ve been serving Buford, GA for a long time, and we understand the needs of the people who live in the area. Feel free to get in touch with us so we can take care of all your insurance needs.