Most of us would never debate the value of a homeowner’s insurance policy. It covers many different things, and as a result, can create great peace of mind. However, it’s important to understand that there are certain things that it doesn’t cover. It’s not uncommon to assume that this type of insurance is a blanket for anything and everything that could go wrong in or around your home. However, this is simply untrue.
What Does Homeowners Insurance Cover?
What a homeowner’s insurance policy can cover can vary from one company to another. However, there are broad areas of coverage that are generally covered by most homeowners’ policies. Most policies cover your home’s physical structure, your garage, fencing, driveway, and your shed. However, it should be noted that some structures on your property wouldn’t be covered under your homeowners’ policy if they were designated for business. You would need a separate policy for a business structure. However, damage caused by some natural disasters is covered, in addition to vandalism, fire, and liability if anyone becomes injured or hurt on your property. Many insurance policies will cover the theft of your watercraft if it occurs on your property, but this coverage won’t extend if it occurs on someone else’s property or away from your home. Your personal property is also included in your homeowner’s insurance.
What’s NOT Covered?
It may seem as if almost everything is covered under a homeowner’s policy; however, this isn’t true. Most homeowners’ policies won’t cover flooding or earthquakes. These natural disasters require a separate policy. Also, earth movement that includes earthquakes and sinkholes isn’t covered. Water damage from overflows and backups, damage from your drains or sewer systems, and damage from termites, rodents, and general wear and tear aren’t covered. However, some of these issues can be covered under a separate policy or an addendum to your current policy. Other less common issues that aren’t covered include damage that occurs from a nuclear hazard or war. Also, most policies won’t cover artwork or jewelry. You may have to purchase a separate policy for that. Our team at Breathe Insurance is dedicated to helping Aliso Viejo, CA policyholders, understand how homeowners insurance works and what is covered. Give us a call today. We look forward to answering your questions