What's Not Covered By a Home Insurance Policy?

So - Yeah. Chances are that when you were buying your home you were so caught up on the offer and negotiations of getting your dream house and finding the lowest mortgage rate that your Home Insurance was really just an after-thought.

You know, part of the transaction that just had to get done, and your loan officer told you it had to come in below a certain dollar amount per month.

A little bit of time has maybe passed since you bought your home and you see the hazard insurance premium on your mortgage statment every month and nothing ever really crosses your mind about it....UNTIL that one day when you do have to file a claim.

That day, will be the day you wished you did pay more attention to the hazard policy that was so neglected up until you needed it.

Look, you aren't bad, and you are no different than most of the homebuyers in our fast paced - super hurried - quick closing cycle world.

BUT, if you dont know What's not covered by your home insurance , you stand to be really angry, surprised or both at claims time.

Briefly, four things that Are NOT COVERED by your standard home insurance policy are: ( we call these exclusions in our industry )

What's Not Covered By a Home Insurance Policy?

1. Hurricanes and Floods

Although damage caused by a strong rain storm would be covered by your insurance plan, more severe natural disasters such as hurricanes and floods are not included in your coverage plan. If you live in on the coast or in an area where these disasters strike often, you will want to consider adding on a separate coverage plan to have the protection you need in case of an emergency.

2. Home Maintenance

From bursting pipes to termite infestations, every home encounters maintenance problems that often occur despite the time and energy you put into generally maintaining your home. Even if these maintenance issues result in serious damage to your home and costly repairs are necessary, your insurance policy will not cover the costs. However, damage such as food spoiling as a result of a power outage would be covered by a standard insurance policy.

3. Earthquakes and Sinkholes

Similar to hurricanes and floods, natural disasters such as earthquakes and sinkholes are also not covered by a standard insurance policy. Although earth movements are beyond your control, the policy typically does not cover damage that may result from these natural disasters. Residents in areas which are especially prone to these disasters can purchase endorsement insurance at an additional cost.

4. Limitations

Although your standard insurance policy will cover damages to a certain extent, there are a few categories where the limitation is easy to exceed. For example, a standard insurance policy will only cover -$1,000 worth of stolen valuables such as jewelry, gold, silverware, and so forth. Many homes require additional coverage in these limited areas and should consult the insurance company on additional coverage policies available to ensure their protection as fully as possible.

This list above is by no means a complete list, but we didnt think you had a full hour to read about Home Insurance.

If you still have questions about What's not covered by your home insurance, or you would like us to take a fresh look at your comprehensive insurance program, please give us a call. We are licensed to write business in 42 States.

-www.rightsure.com   877-917-5295  info [at] rightsure [dot] com