WHAT’S NOT COVERED?

A common question about insurance is “what’s covered?” But an even better one: “What’s not covered?” Here’s 10 things probably excluded from your home insurance you need to know about:

 
 

There’s ways to cover some of these - make sure to speak with your representative to make sure you’re not left without coverage.

 
  1. Flood

One of the first notices you may see when you open up your paperwork – Flood is excluded. But what is considered a flood? Simply put, water which comes off, or through, the surface of the ground. This isn’t the same as a pipe burst that leaks water into the home.

 

2. Earth Movement

Yep, this natural disaster is excluded too. Mudslides, earthquake - most policies don’t offer coverage, but you may be able to buy it back.

 

3. Those pesky squirrels (and other vermin)

  • They chew on your siding, fascia boards, and eat up your duct work and wiring, and leave behind droppings – damage from these little guys is excluded on most policies out there. So keep your home secured and look for anywhere they may be able to get in. A good pest control plan is never a bad idea.

 

4. Slow, repetitive damage

  • Water stains, wood rot, hanging gutters -  most times, if it happens slowly over time, insurance likely does not cover it. Be sure you keep up with your house and look for traces of deteriorating conditions. Especially if it can let water in – keep it sealed up tight.

 

5. Broken down appliances

  • It’s July 3rd, you’ve just wrapped up work for a long holiday weekend with family, but when you get home, it’s as hot inside as it is outside. Your HVAC system stopped working – likely not covered on your home insurance. Some plans have the option to buy Equipment Breakdown, but often, wear and tear is excluded. Do you have a home warranty?

 

6. That thing you left behind at the airport

  • You’re excited to get to a warm destination and cut away from work for a while. But just before you get on the plane, you check your email on your iPad or laptop. You set it down to grab something else but your section is called to get up and you left it lying on the floor. You don’t realize it until you get to your destination, but it’s nowhere to be found in lost and found. Sadly, lost or misplaced items are not covered

 

7. Accidental damage (personal property)

  • Your tv fell off the wall, you dropped your laptop, or maybe you crashed your bike. Your things that get broken on accident, probably not covered by most policies if you have a Named Perils Policy. If you have an Open Perils Coverage (sometimes called Special Coverage), you may have coverage, but make sure to think through your deductible first. Learn the difference between Named Perils and Open Perils by clicking here.

 

8. Your $5,000+ engagement ring

  • Ouch, this one hurts. Most people have at least one jewelry item that’s worth a bit of money, but almost every policy out there has a low limitation for jewelry. Every company is different, so if you have something of value, make sure to get it properly insured by scheduling it. An appraisal may or may not be required. Check your policy for other limits like this on cash, firearms, and musical instruments.

 

9. Musical instruments used for gigs

  • Are you a weekend musician that plays your guitar at the local coffee shop or for wedding gigs? Many policies stop covering an item once you collect money for using it. Same goes for cameras and other hobbies many of us try to make a buck off of. There’s ways to cover these things, but make sure you speak with your representative to make sure you’re not left without coverage.

 

10. Your home-based business

  • If you run any sort of business from your home, you likely have some inventory or supplies kept at home. These items are often very limited and sometimes excluded from coverage. If you use a detached structure to store things for business (hey contractors, that’s you, too), that entire structure may not have coverage. Make sure you talk to someone about business insurance to add that coverage back.

That’s a lot of not covered. So what’s left to cover? Click here to find out.

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