You may feel safe under the protection of your homeowner’s insurance, but it’s important to remember that no policy is all-encompassing. While most do offer coverage for events such as fires, theft, weather, and many other damages, you might be shocked to learn that there’s still a lot you’re unprotected from (despite your hefty monthly payment.)
That’s why it’s so important to understand your policy. Insurance companies will take advantage of the gaps in your coverage to try and deny your claim or offer you a small settlement. Read on to learn about some of the surprising things your homeowner’s insurance won’t cover.
What Does Home Insurance Not Cover?
Flooding
Surprisingly, damage caused by flooding is not included in most homeowners’ insurance policies—despite the fact that 25% of flooding occurs outside of “high-risk” areas (like those along bodies of water), and that just one inch of water can cause up to $25,000 dollars in damage. In order to be protected from floods, you’ll have to purchase a separate policy, one that only 27% of homeowners have nationwide. That will cover flooding caused by things like heavy rains, sewer overflows, or sump pump backups. Luckily for you, most homeowners insurance policies do cover flooding related to things like burst pipes or water heaters.
Ground Movement
If there’s an earthquake, landslide, mudflow, sinkhole, or ground movement of any kind, you’re likely not protected by your homeowner’s insurance policy if damage occurs. If you live in the Midwest, this is not something you have to worry about too much—especially around Wisconsin. However, if you live along a lake or body of water, you may want to consider protecting yourself against landslides, especially if you know we’re preparing for a particularly rainy season.
Pest Damage
This one may come as a bit of a surprise, but damage caused by pests such as rats, mice, bats, termites, and bees is not covered by homeowner’s insurance. So if termites chew through wood in your home and cause structural damage, or raccoons claw a hole in your roof and burrow in your attic, you’ll be paying to fix the problems out of your own pocket. Unfortunately, there’s no policy that can be purchased to cover things relating to pests. This is because pest damage is considered expected and preventable, and insurance policies are meant to cover only unexpected incidents. This means you’ll want to take the time to protect your property from pest infestations.
Construction Damage
If something goes awry during a construction project on your property, you may be stuck covering the cost to fix it. Your homeowner’s insurance will not cover damages, and while most construction companies should have their own insurance policies in place in case of an incident, a shady contractor won’t. Before hiring a contractor or construction company, make sure to ask for proof of insurance and the coverage amount. However, it’s important to note that if you’re completing the construction yourself, there’s no policy you’ll be able to fall back on unless you buy one yourself—typically, this type of policy is called builder’s risk insurance.
Valuables (Beyond Coverage Limits)
Your home likely contains at least a handful of valuable pieces of jewelry, art, or collectibles. And despite how expensive and irreplaceable these things may be, they’re still not entirely covered by your homeowner’s insurance. Most of your belongings are covered up to a point, and it’s typically capped at around $1,000 to $2,000 per item. This means that if a pricer item on your property gets damaged or stolen, you won’t be reimbursed for the whole thing. If this is something you want to avoid, you may want to consider purchasing extra “personal articles floater” insurance, which offers additional protection to items not completely covered by homeowner’s insurance.
Certain Dog Breeds
Just because you love your dog doesn’t mean that your insurance company has to. Homeowner’s insurance typically covers the medical and legal costs of dog attacks—depending on the breed. Pit bulls, Rottweilers, Doberman pinschers, and German shepherds are often examples of dogs considered “more dangerous” than others with “higher records of biting.” If you own a dog on an insurance company’s banned breeds list, you’ll be on your own when it comes to coverage. Make sure to double-check with your insurance company to ensure that your dog is covered. If not, consider finding a new company that will cover your dog breed.
Contact Us Today
Have more questions regarding what is or isn’t covered by your insurance policy? Then contact us today for a free consultation. At Fortitude Public Adjusters, we have a knowledgeable team of experienced adjusters who understand the internal workings of the claims process and will fight on your behalf to get you a proper settlement.
