Many people acquire home insurance and rest easy. They may go through life without ever needing to make a home insurance claim. However, there are certain risks that may cause people problems with their insurance company. Here is a look at some of the common home insurance risks and how to avoid them.

Not Documenting Home Renovation

Over time, most people renovate their homes by adding a pool, new rooms or perhaps add another storey. Unfortunately, they never let their home insurance provider know. The truth is that many forget while others perceive it as unnecessary. The truth is that homeowners risk policy or claim cancellation should they fail to document any major home renovations.

Therefore, always document any major home renovation to avoid this risk.

Lack of Maintenance

A straightforward fact written in every insurance policy is that no insurance company will cover damages due to a lack of maintenance, or wear and tear. If the pipes are rusting and the walls are weakening, homeowners must ensure these problems are addressed and resolved as soon as possible.

Inventory Falsification

All home insurance providers require home owners to provide an inventory of their home. This will enable them to reimburse them for damages in case of severe damage. Unfortunately, some home owners falsify a few, only a few, items. However, this runs the risk of claim and/or policy cancellation. Therefore, always provide true home inventories.

Lack of Receipts

For almost everything in your home, home insurance providers require that proper receipts be provided. If not, they cannot reimburse the home owners in case of damage or theft. Therefore, always ensure that your home insurance provider has the receipts of as many items in your home as possible. This helps reduce claim time and ensures proper reimbursement.

Many home owners have no idea they are risking themselves and their home insurance policy by making the mistakes above. Therefore, always do the right thing and provide proper documentation, maintain your home and never falsify any information, no matter how irrelevant.