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Question for the Money Doctors

Question submitted on Sep 24, 2012.

Question

Can I file a claim with my homeowners insurance due to an accident that I had falling down 10 stairs in my home?

Answer

You''ll need to read your insurance policy to see what is covered and what is not covered. Please contact your insurance agent about your coverage. This will depend upon your loss. If you suffered any injuries, your medical insurance will kick in first.

Your homeowners insurance policy may have some coverage for medical expenses, but they will insist on using your medical insurance first.

Let''s talk about homeowners insurance to better understand what you purchased.

Homeowners insurance is known as property and casualty insurance. You purchase coverage to protect yourself against certain losses which include damage to your home, loss of contents, loss of use, and liability coverage for accidents that may happen at your home. You will need to check if you are covered for this accident or if your policy only covers other people than the homeowner.

Before any reimbursements, you have to pay a deductible. A higher deductible may help lower the premium cost.

You will need to check for exclusions to see what is not specifically covered. Most common exclusions include earth movement, water damage, power failure, war, nuclear attack, terrorism, etc.


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