What Doesn’t Your Home Insurance Policy Cover?

Buying a house? You need to have homeowners’ insurance coverage. This coverage is a protection for you and your family, not to mention your assets. It’s also a requirement for lenders if you plan on getting a mortgage rather than purchasing your home solely with cash.

However, just having an insurance policy may not be enough if certain events occur.

What Does Homeowner’s Insurance Not Cover?

To help you understand the things commonly not covered by homeowners’ insurance, we’ve created a list of some of the most relevant homeowners’ insurance coverage gaps. Use these to start a discussion with your insurance agent to figure out what your home insurance does and doesn’t cover. Often, you can “fill in the blanks” with additional coverage if you feel it’s warranted in your situation.

• Burst Pipes. It’s been a cold winter and your pipes are frozen — and then they burst. You assume your homeowners’ insurance policy will reimburse you for the cost to repair damages, but what you discover is your insurance considers this water damage that isn’t covered unless you have flood insurance.
• Mold. If you find mold in your home, you owe it to yourself and your family to remove it as rapidly and thoroughly as possible. Mold can lead to structural problems and is linked to physical issues like allergic reactions, colds, migraines, flu-like symptoms and more serious medical conditions. Most homeowners’ insurance coverage limits reimbursement related to mold remediation and cleanup.

Know the limits on your policy just in case. It can get very damp in many parts of the country, especially the Northeast, and moisture leads to mold growth.

• Sinkholes. While homeowners’ insurance policies in Florida need to cover sinkholes, they don’t in other parts of the country, including Pennsylvania. Worried that a sinkhole could happen on your property because of geological disturbances experienced by your neighbors? You may want to review your options with your insurance agent.
• Termites. Have you found signs of termite infestation? You’ll have to pay a pest control expert out-of-pocket to get rid of these insects, rather than expect any reimbursement from your homeowners’ insurance. The best way to make sure termites don’t happen is to have your property regularly checked and to keep moisture and mulch away from the outside of the home, where termites prefer to breed.
• Simultaneous Events. An interesting aspect of numerous homeowners’ insurance carriers is that they might deem an event not coverable because it happened in tandem with another uncovered event. For instance, if an event that would normally be covered happens at the same time as an event that wouldn’t be covered, the homeowners’ insurance will not pay for either.
• Wages. What happens if damage occurs in your house and you have to take off work to solve the situation? Your lost wages will not be returned from your homeowners’ insurance policy. It’s critical to know this in advance so you can negotiate wage terms with your employer if you must be absent from your job.
• Sewage. The last thing you want to have happen is a sewer backup. Unfortunately, this isn’t unheard of. The damage to your personal belongings, floors, walls, etc. is unlikely to be covered by a regular homeowners’ policy.
• Flooding. If your new home is situated in an area that experiences regular flooding, you should look into flood coverage. Homeowners’ insurance policies will not pay for damages caused by a flood event.
• Earthquakes. Although earthquake damages are rare in Pennsylvania, they can sometimes happen. If any part of your house is destroyed by a sudden earthquake, you cannot rely on your homeowners’ insurance to cover rebuilding or repairs.
• Water Damage. Water damage is a homeowner’s worst nightmare, whether caused by faulty piping or a natural disaster. Unfortunately, a homeowner’s insurance policy will not cover this damage. If the water damage results from neglect or lack of maintenance, you are personally responsible for repair costs.
• Roof Leaks. Having a roof that is well maintained is essential for protecting your home. If your roof sustains damage from a covered natural disaster such as fire or hail, your homeowner’s insurance will help pay for the roof repairs. However, homeowner’s insurance does not cover roof leaks if the leak is due to age or lack of maintenance. One way to prevent this more significant expense is to conduct regular roof inspections. These inspections will find smaller issues or damages before they lead to more serious problems. If you are buying a new home, you may want to inquire about the roof’s age and condition to ensure the protection of your home.
• Maintenance Damage. Your home is your responsibility, and as a homeowner, you must take action to protect your home from potential damage. If your home experiences damage related to lack of maintenance such as mold, a burst pipe or a pest infestation, your homeowner’s insurance will not cover the costs to repair these damages.

Does Homeowner’s Insurance Cover Theft?

Homeowner’s insurance will typically cover property theft and any damage that occurs to your home as the result of a break-in. However, there are some specific conditions where your policy may not cover theft. These conditions include:

• Unreported theft: If you don’t file a police report or wait more than 60 days to file a claim, your insurance company will not reimburse you.
• A named insured commits the theft: If a theft occurs by someone whose name is on the insurance policy or you stage a robbery, your homeowner’s insurance will not cover the theft.
• The theft occurred while the home was under construction: If no one is living in your home during construction and a robbery occurs, your homeowner’s policy will not cover any charges.
• The named insured is living elsewhere: If you have been living somewhere other than your home for two months when the theft occurs, your claim may face rejection by your insurance company.
• Your trailer, camper, or watercraft wasn’t on your property when taken: Your policy will not cover the theft of trailers, campers or watercraft if the theft occurred off of your property.
• The theft occurs in a rented unit: If the tenant isn’t named your policy and your rental property experiences a robbery, your insurance company will not accept your claim.

Get a Home Insurance Quote From Strock Insurance Today!

When you purchase your homeowners’ insurance policy, you owe it to yourself to get a thorough understanding of the language throughout the policy. That way, you’ll never be surprised by what is or isn’t covered if you have to make a claim.