We all know that having insurance is a must-have in any home owner situation, even if you’re renting you should obtain insurance for your personal effects. Home insurance is required upon buying a new home, this will never change. Now with that being said, not all insurance will cover certain damage to your home.
When purchasing that new home, and then in turn when you begin insurance shopping be smart, ask questions, and know that at the time you make that first payment you are covered for any catastrophe that could hit “home.”
So what kind of coverage do you have? Is that something you can answer off the top of your head? It’s beneficial to know what you’re covered for, because when you go to put that claim in you better know you’re covered. A point against you for something that couldn’t be fixed, is not worth it. If you aren’t sure of the coverage, look to your agent, ask questions. This will not only help you, but your insurance company as well.
What is and isn’t covered depends on your policy type. An HO-2 policy, for instance, is a “named-peril” plan that protects you against 16 specific issues, while an HO-3 or HO-5 policy will cover more problems, but it may be costly.
But, at the end of the day – even the best policies won’t compensate you for everything. Here are nine things MOST homeowner’s insurance policies WON’T cover.
- Ground Movement
Landslides, earthquakes, and your occasional sink hole. In most cases for these catastrophes to be covered, you would need to purchase separate policies to have such coverage.
Floods, like those from overflowing rivers or torrential rain, are not covered by home insurance. Who knew, most people don’t know they don’t have flood coverage. This one can sneak up on you, and cost a lot of jump change in order to get you back to normal. Most policies do offer water backup coverage, which covers certain overflow and sewage issues. However, burst pipes are generally covered — for example, if the water pipe behind your washing machine bursts and spews water. So no worries there!
Mold – it is a sneaky little devil. This is not covered in situations where there may be long term leaks or poor upkeep of a home. In that situation you would not be covered for mold remediation. BUT, if mold occurs after a water loss from a pipe, plumbing, or what have you, you get that cleaned up in a timely manner, it will fix the problem right away.
- Wear & Tear
Now, you might be surprised by this one, so hold on to your hats! Home insurance has one purpose and one purpose alone – to put you back together after a loss. When I say loss, I mean a fire, storm, water damage, lightening, only situations that are sudden or accidental. Your home policy is not to fix the wear & tear of your home. You, are expected to keep up your home, basic maintenance over time.
Bedbugs, termites, mice and other vermin are typically excluded from home insurance for the same reason wear and tear isn’t covered. Ridding your place of infestations and fixing the damage left behind is simply part of maintaining your home. Rats!
- Nuclear Hazards
You read, Nuclear Hazards, and you think to yourself – really? Like that happens all the time? Well, what if it did happen, what then? Well you’re in luck, this will most likely never happen, but nuclear power companies are required to have liability insurance to cover such damage if it were to occur. Whew, that was a close one!
- Government Action
Government action, you say? I’m not sure why this is even on the list of things not covered, but I bet it has happened, and you know that insurer got an ear full… Acts of public authorities are not your insurer’s problem. If the government confiscates your belongings, for instance, or condemns your home and takes over the land, your policy won’t cover the cost to repair or replace your property.
- Mean/Aggressive/Uncared for Dogs
This is sad, but true. My own father was on his mail route a week ago, while delivering a package there was a dog who showed aggression towards him. Before my father knew what hit him, the dog bit him in the calf, and ran back into the house. These things do happen, we are unsure as to why, but they certainly do occur. Don’t think your dog is the exception, because they aren’t. Many insurance providers blacklist certain breeds known for inflicting severe injuries, such as pit bulls, rottweilers and wolf hybrids. Other insurers, such as State Farm, won’t deny coverage based on breed alone but will look at an individual dog’s history of aggression.
- Wind Damage occurred in hurricane prone states.
So this one doesn’t apply to the Midwest or anyone not on a coast of any kind, but there are those whom own homes in such beautiful areas where god’s wrath isn’t very nice to those with that wonderful vacation home. If you live along the Atlantic or Gulf coasts, where hurricane risk is highest, you may need to buy separate windstorm insurance. Even if wind coverage is included in your home insurance policy, wind damage can cost you.
So, after reading through the types of damage that aren’t covered, make sure you have a copy of your home policy, and know what you are in fact covered for. No one likes surprise’s when they think they’re covered, and it turns out you declined that coverage when it was offered. Now if you do have a loss of any kind, make sure to call your agent. Talk it over with them on what your next step is, they have your best interest at heart, and will provide a company they know & trust to help you in this time of need.
Also if you’re unsure if a claim needs to be placed, give us a call at
ServiceMaster Advantage 1-888-364-1188, we give free scopes to see if in fact you have a claim. This will be very beneficial for you in the long run. Call us or check us out on our website at https://www.svmadv.com/, always happy to help or answer any questions you might have during a loss.