What does your home insurance cover?  Many people don’t pay attention to the details of their home insurance policy they are paying for…  nor the policy exclusions .  Unfortunately, details tend to come out when there is a claim on the homeowner’s insurance.  And it’s not always pretty.

Be proactive and ask your insurance agent about all risks identified in your area and if additional insurance is available.  Some insurance agents will not offer this information, so it’s good to ask the question directly.  When uninsured victims lost their homes in the Nashville flood of 2010 , many insurance agents were sued for not informing clients that flood insurance was available.  The Dogz know peeps who lost everything and were told that flood insurance was not available even when they asked.  It was ugly.

Exclusions

To be thorough, ask your agent about what situations are NOT covered.  The information should be in your documents, but it’s good to walk through each line item with your agent and ask any questions to make sure you understand.

The following situations are typically excluded from homeowner’s policies and some may have additional insurance policies available.

Landslide ~ Windstorm ~Flood ~ Earthquake ~ Bad Workmanship & Repair ~ Hurricane ~ Sinkholes ~ War ~ Nuclear Trouble ~ Government Mandates ~ Maintenance Neglect

Examples of Neglect

Know what types of issues could be considered your fault.  You may very well not be reimbursed if your insurance company believes there was neglect involved on your part.

Ask about these situations..

  • What if your pipes freeze?
  • What if you hire a handyman or contractor that is not licensed and something goes wrong?
  • What if you left the home vacant for a period of time and damage was caused by vandalism or some other type of issue?
  • What if you accidentally released contaminants into the house that destroy something?  Picture Walt on Breaking Bad…
  • What other specific examples of neglect can the insurance company provide?

Give your insurance company a call and get the scoop on your specific coverage, exlcusions and areas of risk.  It could very well be worth your time 🙂

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