Is Your Homeowners Insurance Policy Really Covering You?

You might think that because you have a homeowners insurance policy that you'll be covered if anything should happen to your home, property or belongings. Unfortunately, there are several things that a standard homeowners insurance policy won't cover. Here, you'll find a little information about things that your insurance policy will not cover and what you can do to ensure you don't take a loss.

Household Damages

Mold, termite damage, sewer backups, floods, earthquakes and sinkholes are all things that the standard homeowners insurance policy will not cover.

These issues are all quite serious and can cause a substantial amount of damage that you might struggle to pay to repair, but without adding additional coverage, you will be left footing the bill for all of the repairs yourself.

Fortunately, many of these problems can be caught before they occur – except the earthquakes and floods. Having a yearly inspection of your home and your property will help you identify problems before they become serious issues that'll cost you an arm and a leg to repair.

Construction Damage

When you're renovating your home, any damage that occurs to the property will likely not be covered by your homeowners insurance policy. Typically, if you've hired a contractor to do the work, it would be his or her insurance that would have to cover the damages to your home or belongings.

If you're doing the work on your own, don't expect any insurance coverage for damages that you cause. Unless you take out a separate policy to cover the construction project, you will be left paying for the repairs out of your own pocket.

Dog Bites

Do you own an "aggressive breed" dog? Unfortunately, certain breeds of dogs have gotten a bad rap and homeowners insurance companies may not cover any injuries that the dog may have caused. You will need to talk with your agent to find out if your breed of dog is on the list of dogs that they will not cover.

High-Value Items

Do you have expensive jewelry, a lot of cash on hand, valuable art or collectibles that are growing in value by the day? In many cases, these items will not be covered fully – you will need to have them appraised and take out additional insurance on them.

Talk with an agent today, such as at Ideal Insurance Agency, to find out if you are actually protected from losses that you may suffer around your home and property.