Understanding What Your Home Insurance Doesn't Cover
Wednesday, 13 March 2024, 13:30
What Your Homeowners Policy Won't Cover
A homeowners policy will not pay for certain losses to a home. Find out what might be excluded from coverage to be prepared for potential damage.
1. Flood damage
- Insurers generally don't provide coverage for flooding caused by natural disasters such as hurricanes.
- Tip: Consider the National Flood Insurance Program for affordable coverage in flood-prone areas.
2. Mold issues
- Mold-related damage is often excluded, especially if it results from negligence or wear and tear.
- Tip: Address water-related issues promptly to prevent mold problems.
3. Pest invasions
- Homeowners insurance typically doesn't cover damage from preventable pest infestations.
- Tip: Act quickly to address pest issues before they become costly problems
4. Limitations on high-value items
- Insurers may limit coverage for expensive items like jewelry beyond a certain threshold.
- Tip: Consider standalone policies for additional protection on high-value items.
Understanding these exclusions helps homeowners proactively plan for potential uncovered losses and explore supplemental coverage options, ensuring financial security in the event of unexpected accidents or damages.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.