Homeowner insurance policy guards you from the losses that you may incur due to some covered dangers mentioned in the various clauses of the peril policy. Once you purchase one such policy and make the premium payment, you become entitled to the benefits accruing under it. In case of any mishap, you can rightfully claim the damages caused to you after proving that the cause of loss is among one of the covered policy. In case you have bought a homeowner’s insurance policy along with a mortgage, and the house gets damaged by a covered peril, the question that arises is what parties will get the claim check.

Let’s clarify this doubt once and for all. In case, the structure of an individual’s mortgaged home is damaged, the homeowner insurance company will issue a claim check made out the aggrieved person and his mortgage lender. This is done as the mortgage lenders have a vested financial interest in your property. They therefore insist that there is adequate insurance coverage to protect the financial interest they have. However, payments for claims pertaining to personal possessions and/or additional living expenses are credited directly to the account of the homeowner.

The need to claim a homeowner’s damage almost always brings along a lot of stress for the homeowner policyholder. The homeowner has either suffered damage or loss to the home or property or caused injury or property damage to others. In both situations, he needs financial redress that no one other than his homeowner insurance company can provide.

When an insured homeowner decides on filing a home insurance claim, he has already suffered a confirmed loss in either of the following areas – liability or property. As soon as this happens, he should open the current copy of his home insurance policy to review what coverages, limits, and deductibles he may claim. He can even call his home insurance agent to assist him through the cumbersome process of coverage claim.