Know Your Rights: Compensation Options for Damage Caused by Power Surges and the Consequences of Filing a Claim

As a denizen of a domicile,  you place an immense reliance on the neighboring power utility company to provide you with the vitalizing electric  current to energize your household devices.  But, lo and behold, unexpected and unwarranted power surges,  arising out of the carelessness of the power company's workforce,  can wreak havoc on your expensive appliances.  It is a precarious situation,  and you need to know your legal rights and available alternatives to obtain compensation.

In most states,  it is mandatory for the power utility company to furnish compensation in case of damage caused by the negligence of  their workers.  However,  the compensation amount is constrained to the actual cash value (ACV) of the damaged articles.  ACV is determined by  evaluating the worth of the items at the time of damage,  and this amount can be abysmally low for old devices with paltry resale value.  Hence,  the paltry compensation may not enable you to procure replacements for your damaged appliances,  leaving you with a substantial financial burden.

One option available for the homeowner is to turn towards their homeowners' insurance policy.  The said policy typically  includes replacement cost coverage, which pays for the actual cost of procuring substitute items,  notwithstanding their ACV.  This coverage can aid in defraying the expenses of the ravaged appliances.  However,  filing a claim may have consequences.

Submitting a claim on your homeowners' insurance policy can result in increased premiums or even the disapproval of the  policy renewal.  Insurance companies tend to view frequent filers as a higher risk and may augment their coverage  charges accordingly.  Hence,  homeowners must interpret their insurance policy and assess the deductible to make informed decisions concerning claim  filing.  Deductible is the initial amount the homeowner must shell out from their pockets before the insurance coverage  commences.  If the cost of the damages falls short of the deductible amount,  then it may not be worthwhile to file a claim.

In summary,  homeowners have the prerogative to obtain compensation if their appliances fall prey to the negligent actions of the  local power utility company.  Nevertheless, the compensation amount is limited to the ACV of the wrecked items,  which may fall short of the replacement cost.  Homeowners' insurance may be an alternative,  but filing a claim may entail repercussions.  Therefore, it is imperative to comprehend the insurance policy,  assess the deductible, and reserve the coverage for crucial and costly claims,  such as a neighboring tree falling on your household.

In addition, we can find ways to prevent this from happening. We can buy an automatic voltage regulator, which will not only stabilize the voltage, but also protect your electronics and appliances. Remember that you don't get surges when you lose power. Surges that damage electronics often occur when power is restored. Automatic voltage regulators can limit this and prevent surges from damaging your appliances.

If you are in an area where people often suffer from this, or suffer from voltage instability, this may be a business opportunity. If you are looking for AVR OEM, there are AVR manufacturers you can contact to replace your LOGO, design panels and packaging.