From natural disasters and accidental fires to vandalism and property damage, you want to make sure your house remains protected. Without a proper homeowners’ insurance policy, you could face paying for damages completely out of pocket.
However, not all policies provide equal coverage. Here are some common situations where standard coverages may or may not apply.
A standard insurance policy covers water damage, fire and smoke damage and damage caused by weather or natural disasters. Covered property includes your dwelling, your belongings and any other structures on your property. Property that is high-risk, such as swimming pools, might require additional coverage.
You can cover your losses after a break-in. Most policies have a cap, though. If you live in a high-risk area, consider adding additional coverage to protect your valuables.
Visitors and trespassers
Personal liability coverage is often built into a standard homeowners’ insurance policy. If someone injures themselves on your property, even trespassers, you will have some form of coverage. Insurance companies sometimes will cover your dog biting a visitor or trespasser, but many insurers do not insure breeds known for their aggression.
Damage due to lack of maintenance
Insurance policies typically do not cover preventable situations. Preventable situations include issues that arise due to neglect, such as a dying tree dropping a branch on your roof or a termite infestation ruining your foundation. Insurers only cover mold, for example, if you can prove it resulted from a burst pipe or a roof that started leaking after sustaining storm damage. Conduct regular inspections to avoid these situations.
These instances apply to most standard policies. Always get clear with your specific insurer to know what they will and will not cover.