Home Insurance Policies are mandatory to get when you purchase a new house. This is probably the first thing a homeowner does when he invests in a new house.
However, in nearly every case, the owner doesn’t bother reading about the insurance coverage and leaves it to the insurance providers.
Due to this, many buyers are known for the fact of what their insurance policy covers at the time of the disaster or the mishap. If you want to stay safe from getting in trouble at the last moment, it would be a smarter move to know the details of your homeowner insurance.
Read on as we shall be discussing the 6 things that homeowner insurance does not cover.
1: Homeowner’s Insurance is not responsible for Lack of Maintenance
After buying a house for yourself, it is your responsibility to maintain and keep a check and balance of every aspect. Home Maintenance is as important as getting it insured. You will have to pay by yourself if you lack in preserving the orderliness of your home.
Not getting it?
Once you purchase a product, you have to look for its condition and check if it requires anything. The same is the case with your home. No matter if you get your house insured by the best insurance providers in town, you still have to maintain it by yourself.
Several issues can arise if you neglect taking care of your home. Some of these issues are pest invasion, plague, or mold. Standard homeowner insurance would not cover these aspects. If a fungal attack infects your home, the insurance provider would not be in charge of it.
Therefore, you should take care of certain details in your home such as leaking pipes, cleanliness of your house, the amount of moisture in the place, and the condition of the walls, roof, and floor of the house. Never expect any insurance provider to pay you for your house maintenance matters.
2: Landslides and Earthquakes
The standard home insurance policies shall not cover any natural disaster that can damage your house. It is essential to check for the place you are buying a house in and get to know if the area is prone to earthquakes or not.
In the other case, you can install earthquake-resistant materials to protect your house from getting damaged if any calamity originates.
If you might be wondering why there is no policy to compensate for the loss caused by earthly disasters, you should know that such type of calamities has specific policies. Simple homeowner insurance might not provide coverage for natural disasters.
3: Flood Damage
Flood is a common cause of damage to any house, especially in areas where a flood is likely to arise. It is often perceived that the house owner’s policy contains flood damage coverage. However, it is not true.
Standard homeowner insurance does not cover any damage or destruction caused by a flood. It is quite disappointing to believe that an insurance policy does not cover if anything happens due to the flood.
If you are still not satisfied and want to secure your house from flood, you can register insurance with the Natural Flood Insurance Program. They are administered to cover a specific amount of damage that can be caused by flood or water overflow in the house.
4: Damage caused during House Repairing
When getting your house reshaped and repaired, ensure that the workers you have hired are well aware of their work and are experts in what they do.
You want to know why?
This is because any damage caused to your house’s interior or exterior when getting your property remolded is excluded from the house owner’s insurance policy.
It is a prevalent issue that is seen in many houses. When getting the property repaired, you should go for the constructors who provide you a warranty and liability insurance. In this way, you will not have to deal with any inconvenience and will not have to pay twice.
5: Damage caused by an Aggressive Pet
Loving your pet and giving him the utmost care is the responsibility of the owner. Without any offense, it is quite common that the pet’s aggressive breed at your home can sometimes cause you and your property some damage.
If not you, then the pet can harm the neighbors or the surrounding community. In this case, it is your responsibility to compensate for the loss caused to others. At this point, you cannot ask for coverage from your house owner’s insurance policy.
This is because standard and typical house owner insurance policies do not cover the pet’s damage. In some insurance policies, certain breeds of animals are excluded from the policy. Before purchasing any insurance, make sure that you check for the pet’s liability terms and conditions.
6: Stolen Cash and Jewelers
If thousands of dollars are stashed away from your house, you would not be able to get them back by merely contacting your insurance provider. A typical house owner’s insurance does not cover any loss of money or jewelers caused by a burglar’s invasion or housebreaking.
Therefore, you have to make sure and keep your security intact. Avoid keeping your jewelers and cash inside the cupboards or cabinets of your house. Either hide them at a secure place or get them secured in any bank or locker.
Now that you know about the six most common things that are not covered by house owners’ insurance policies, you can now get your house insured with satisfaction and clarity. Before paying a heavy amount of money to the agents, take a moment to review all the policies’ rules and regulations. In this way, you will be able to get a fair idea of all the exceptions and limits regarding your insurance policy coverage.