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What Isn’t Covered in a Standard Homeowners Policy
Although a standard homeowners insurance policy does not cover everything, it covers your home, some of your possessions, liability, and other structures in your home. It is essential to know what is not covered in your homeowners' policy to avoid inconveniences or being caught off guard in case of a disaster. Here are some of the costs excluded from a standard homeowners policy...
1. Flooding
Flooding resulting from overflowing rivers, backed-up sewers, groundwater, or heavy downpours is not covered in a homeowner's insurance. Burst pipes are usually covered, but it is essential to inquire from the insurer to determine the type of coverage you need. If you live in an area prone to flooding, purchasing flood insurance is a good investment.
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2. Earthquakes
In a general homeowner's insurance, damages resulting from earthquakes or aftershocks are not covered. Damages resulting from other earth movements, for instance, sinkholes and landslides, are also excluded.
3. Normal wear and tear
Homeowners insurance does not cover maintaining your property. The homeowner is required to incur the costs of maintaining the home from normal wear and tear. It is up to you to ensure that plumbing, ventilation, heating, fences, and roof are in good condition.
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4. Infestation
It is up to you to get rid of pests if your home is infested. When a home is infested with pests like bedbugs or mites, your insurance cannot cover the damages you incur. If you have to make repairs from pest infestation, it is up to you to incur the costs.
5. Service lines
Homeowners insurance usually covers pipes in your home if they leak or burst. However, most service lines in your property are not covered by your homeowner insurance policy. For example, if a sewer line breaks, you might incur repair costs. However, you can get this coverage from other insurers.
6. Wind & hurricane damage
Wind and hurricane damage are not covered by homeowner's insurance, especially if you live in a coastal region, because they are classified under natural disaster. Ergo, you can ask your insurer to include windstorm coverage. Alternatively, you can look for another insurance company to cover wind and hurricane damages.
7. Equipment breakdown
There are specific equipment that play a massive role in keeping your house safe, clean, and comfortable. Typically, most homeowner's equipment does not cover the equipment that supports your home unless you purchase equipment breakdown coverage. Most insurers do not include equipment breakdown coverage unless you ask them to. Remember to inquire to avoid frustrations when equipment supporting your home breakdown.
8. Government action
If your property is confiscated or seized by the government, your homeowners' insurance cannot cover any losses incurred. You will have to incur the cost of hiring a lawyer or pay other related costs when facing such circumstances.
9. Mold damage
Mold results from water damage. Usually, mold damage claims are not automatically denied. However, certain stipulations have to be followed to ensure everything was under control. For example, if it is clear that mold damage resulted from negligence or failure to maintain your home regularly, homeowner's insurance cannot cover the damage. Also, if there is a major construction defect or floods, your insurer might not cover the damage. Therefore, your insurance can cover mold damage resulting from burst pipes or leaks, but you must act fast to mitigate the damage.
10. Faulty workmanship
If you lose your property from defective planning, zoning, or development, your homeowner's insurance cannot cover the loss. Additionally, you will incur repair costs if there are defects in workmanship, design, or construction. It is important to note that the materials used in remodeling or renovating your home are in good condition and up to the code if you expect to be compensated for damages covered by your insurance policy.
Homeowners need to ensure that they have comprehended their standard insurance policy to avoid frustrations or last-minute rush when disaster strikes. Attention to detail is crucial to determine what is excluded from the insurance policy. Ask questions and understand the fine print to avoid misunderstanding the policy. If you need additional coverage, do thorough research on umbrella policies. Every homeowner has different needs when it comes to coverage. Therefore it is up to you to determine what you are looking for when purchasing insurance.
Find out what your policy covers and allow us to give you a quote on Homeowner's Insurance.