What Homeowners’ Insurance Doesn’t Cover

Posted by Gurpreet Ghatehora on Friday, August 14th, 2015 at 9:45pm.

Insurance is a part of life and a part of owning anything with any value. It’s important that you protect your assets, like your home, vehicle or precious items, with the appropriate insurance .One thing some people aren’t aware of, especially if they’ve never owned a home, is that some situations aren’t covered by your home insurance.

Flood Damage

If you live in an area prone to flooding, your home insurance likely will not cover this type of damage. If they did, for everyone in the area, they’d be bankrupt as soon as a flood hit. To protect yourself, you often need to purchase and additional policy known as a ‘rider’ to supplement your regular home insurance.

Business Coverage

If you run a business out of your home, your home insurance will not cover any business related liabilities you may face. You will need additional coverage to protect yourself against these such issues.

Earth Movement

Earthquakes and landslides are never covered. If you live in an area prone to these incidences, it’s imperative that you secure additional coverage. Living anywhere on or near mountains or cliffs means you could potentially suffer from a rock or mudslide that could damage or completely destroy your home. The same is true of Earthquake prone areas, which you can investigate online.

Mold, Wear And Tear.

If your home has or develops mold, you will be on the line for the full cost of removing and repairing any damage it causes. Your insurance will also not cover any damage to your home done by general wear tear, which comes from living in a home.

Recreational Vehicles

Boats, RVs, quads and motorcycles are rarely ever covered by your homeowners’ policies. Each one of these items will likely require its own insurance policy.

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