Certain types of damage or loss is not typically covered in a home insurance policy, and it's a good idea to know what this includes.
Damage from Flooding
Flood damage is not included in your home insurance coverage, but certain kinds of water damage is covered. It's not always very clear to a homeowner what is typically covered when it comes to water damage, and what is not included. Home insurance policies do not provide coverage from flood damage. Flood is generally described as rising or overflow of a natural body of water. There is sometimes damage from seepage below the surface and run off, this is not covered.
Maintenance Not Kept up
Damages that are unavoidable and unpredictable are what insurance policies cover. The whole reason to have home insurance coverage is that if an unavoidable accident was to happen and your home, or your property is damaged, that you can have it restored to it's original condition. Maintenance and problems that occur from wear and tear are not part of this. A homeowner must do the necessary repairs on a home, and make sure that maintenance is done that is required due to problems that happen with ageing homes.
Damage Caused by Mold
Mold is usually a result of water damage, but when it occurs slowly over time due to a leak, whether detected or not, your home insurance won't cover the cleanup. Homeowners must be vigilant when looking for water leaks because of the expensive damage that mold from these leaks can cause. If the water damage is from a covered peril, inform your broker or insurer right away.
Earthquake Damage
For homeowners that live in a high-risk earthquake zone, they will need to pay extra to have earthquake coverage, in addition to their regular home insurance. It should be noted that policies like that have low limits, and very high deductibles and premiums.
Business property damage
If you operate a business out of your home or store, don't assume your homeowners insurance covers business property. Your homeowners policy will likely need to be supplemented or you may need a separate business policy. Business property is covered by certain home policies, but the limits are much lower than for items that are of a personal nature. Loss of business data is not included.
Damage Caused by Construction
People enjoy improving their home with renovations. But don't expect your standard home insurance policy to cover you if there is damage to your home while you're doing construction. A builder's risk policy is something that you should consider when considering home renovation. Issues that are covered by this would be damages related to the construction process, theft, and possible damages from rain and wind.
You should also notify your insurance agent of what type of work you are having done.
A lot of homeowners don't realize that certain kinds of damage are not typically covered by their home insurance policies. Don't assume everything under your roof is covered. Go over your policy to have peace of mind.
Damage from Flooding
Flood damage is not included in your home insurance coverage, but certain kinds of water damage is covered. It's not always very clear to a homeowner what is typically covered when it comes to water damage, and what is not included. Home insurance policies do not provide coverage from flood damage. Flood is generally described as rising or overflow of a natural body of water. There is sometimes damage from seepage below the surface and run off, this is not covered.
Maintenance Not Kept up
Damages that are unavoidable and unpredictable are what insurance policies cover. The whole reason to have home insurance coverage is that if an unavoidable accident was to happen and your home, or your property is damaged, that you can have it restored to it's original condition. Maintenance and problems that occur from wear and tear are not part of this. A homeowner must do the necessary repairs on a home, and make sure that maintenance is done that is required due to problems that happen with ageing homes.
Damage Caused by Mold
Mold is usually a result of water damage, but when it occurs slowly over time due to a leak, whether detected or not, your home insurance won't cover the cleanup. Homeowners must be vigilant when looking for water leaks because of the expensive damage that mold from these leaks can cause. If the water damage is from a covered peril, inform your broker or insurer right away.
Earthquake Damage
For homeowners that live in a high-risk earthquake zone, they will need to pay extra to have earthquake coverage, in addition to their regular home insurance. It should be noted that policies like that have low limits, and very high deductibles and premiums.
Business property damage
If you operate a business out of your home or store, don't assume your homeowners insurance covers business property. Your homeowners policy will likely need to be supplemented or you may need a separate business policy. Business property is covered by certain home policies, but the limits are much lower than for items that are of a personal nature. Loss of business data is not included.
Damage Caused by Construction
People enjoy improving their home with renovations. But don't expect your standard home insurance policy to cover you if there is damage to your home while you're doing construction. A builder's risk policy is something that you should consider when considering home renovation. Issues that are covered by this would be damages related to the construction process, theft, and possible damages from rain and wind.
You should also notify your insurance agent of what type of work you are having done.
A lot of homeowners don't realize that certain kinds of damage are not typically covered by their home insurance policies. Don't assume everything under your roof is covered. Go over your policy to have peace of mind.
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