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What Is Not Covered Under Standard Homeowners Insurance?

Until it happens, most homeowners think of disasters as something that won’t happen to them. Disasters can be as minor as a tree branch falling and breaking a few windows, or as concentrated as a pinhole roof leak slowly dripping water into a residence—causing mold or other ripple effects. Sadly, too many people who experience disaster on a large or small scale may find the trauma continues when it’s time to file an insurance claim.
You need to be knowledgeable about what your Homeowner’s Insurance does and does not cover. These common held assumptions about insurance are items that are NOT covered and may require additional insurance or riders.
Wear and Tear Is Covered-Myth
Fact: Coverage typically includes damage from fire, weather and theft, not damage due to general wear and tear or neglect. As a policyholder it’s up to you to maintain your home, including making routine repairs and protecting your home from pests. If you neglect to take care of your property ( a leaky roof) you may not be covered.
You’re Insured in Case of Flood Damage, Earthquakes, Tornadoes and Hurricanes-Myth
Fact: Although some weather-related damage is generally covered, such as from hail, other storm related damage from wind or water may not be.
Floods require specific flood insurance from the Federal Government. Earthquakes might be covered, but sometimes they require additional insurance. Hurricane and tornado damage requires a separate windstorm policy. Sinkholes, mudslides and other earth movement (except in CA) requires a separate endorsement.
All Personal Belongings Are Fully Covered-Myth
Fact: Homeowners insurance typically covers furniture, clothing and other personal items, but more valuable items like jewelry and artwork may require an add-on policy. Homeowners should routinely inventory belongings to determine if policy limits meet their coverage needs.
You Have Protection Against Any Injuries That Happen at Home
-Myth
Fact: Your policy’s liability coverage protects you if a guest is hurt in your home, but if a family member is injured at home, it’s normally covered by health insurance.
Home Businesses Are Part of the Package
-Myth
Fact: A home business requires business insurance to cover property damage and liability; homeowners should consult with their insurance carrier or agent to be sure they’re fully covered from disasters large or small
You Can Rebuild For The Amount Of The Insurance Coverage-Myth
Fact: Unless you insured for “replacement value” you may be under insured to rebuild your home. “Ordinance of Law” exclusions may not cover to the changes to building codes and the additional costs of bringing the property up to code if damaged.
Overflows of back-ups from your sump pump, sewer or drain are covered-Myth
Fact: A standard policy does not include coverage for these issues and require a separate endorsement.
It may not seem like particularly interesting reading material, but it’s better to take the time to thoroughly understand what your insurance policy covers than to be stuck in a situation where you’re not sure when you really need it.

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