Category: Insurance

4 Things Your Homeowner’s Insurance May Not Cover

When homeowners buy home insurance, they oftentimes assume that it covers any damage to their home. While most policies offer a broad range of items they’ll cover, each policy is different and many will not pay for specific things that oftentimes cause damage to the home. You can learn more with a visit https://homeownersinsurancecover.net/ but below we’ll discuss four of those things that your policy may not cover.

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1- Mold

Mold is one of the most common problems found inside of a home. More than 1,000 different species of mold exist, all of which cause not only damage to the home, but a plethora of health risks to everyone in a home, particularly children and the elderly. Even as devastating as mold is, most insurance policies don’t cover the costs of removal and many that do have very tight limits in place for the amount that will be paid to remediation methods.

2- Termites

Another common problem that homeowners experience is termite infestations. These tiny winged creatures feed on cellulose found in dead and decaying wood. Once they make contact with your home, they eat the structure and can totally destruct a home in a period of just two years. But, most insurance policies exclude coverage so you’re left to pay the thousands of dollars in costs to get them gone.

3- Personal Effects in Your Car

If vandalism or other damages affect your car, the home insurance policy may very well kick in to cover the damages to the vehicle. However, do not expect the effects in the vehicle to be covered. Many people wrongly assume that everything is covered but nothing could be farther from the truth. Even that expensive laptop or luggage in the trunk isn’t covered underneath the homeowners insurance coverage policy.

4- Acts of Terrorism

Long ago, talking about terrorism would’ve been hush-hush but not anymore. As result, most insurance companies include provisions that protect them from paying out for damages caused by acts of terrorism. Hopeful this is never an issue that you’ll experience, but don’t expect sympathy from the insurance company if you do.