Home » Home Insurance » Perils that your standard home insurance doesn’t cover.

It’s common for the average homeowner to not know every detail about their home insurance policy. Even insurance specialists have to look at the policy once in a while to confirm their beliefs. However, there are some pretty common misunderstandings of what is covered in a home insurance policy that can have some serious consequences. That is why we assembled a list of some major misconceptions and how to remedy some of them.

It is crucial to understand that flood insurance is not part of the standard insurance policy. The insurance agency that you’ve signed up with most probably gave you a regular policy form to fill out. However, flood policies are separate from regular ones, so if you don’t have two different policies, that means your insurance policy does not include flood insurance.

home insurancesAnother problem is that most homeowners don’t have a clear understanding of what flood means. Most people think that their insurance agency regard flood as a major event that wipes out entire neighborhoods. Unfortunately, this is not entirely true. From the insurer’s point of view, even fairly small events of rising water can be considered flood events and they are not covered by the home insurance policy. In order to be protected, homeowners should read the policy definition of what constitutes a flood or choose a reliable insurance agency that can clearly explain to them the details of their home insurances.

Earth movement of any nature is most probably excluded by your insurance policy. As you notice, we used the term earth movement and not earthquake. What this means is that your insurance agency will not reimburse you for any damage caused by earth movements of any nature, not only earthquakes. Like flood coverage, earthquake coverage is generally procured with a separate policy. Before dismissing the need for coverage, think about all the ways earth movement might damage your home.

A standard insurance policy excludes not only earthquakes but also all costs to repair land that is unstable or has subsided. Make sure you ask your insurance agency to explain to you in detail what is covered in your home insurance, and what is not.

Workmanship or maintenance issues.
The aim of your home insurance policy is to cover damage to your property or home as a result of uncontrolled or unexpected events. Damage resulting from poor workmanship or lack of maintenance is considered to be within your control, so is not covered. Home insurance policies and home warranty policies are totally different things. You should take additional measures if you wish your home to be covered against damage as a result of poor workmanship or lack of maintenance.

As you can see, some perils are not covered by the standard policy but they can still be included in additional policies. However, there are some other perils that simply cannot be covered. An example is damage to your home as a result of military action. which cannot be covered by any policy. As a homeowner, you should understand the key exclusions of your insurance policy.

Nationwide Insurance – Barfield Insurance is one of those insurance agencies that take their time to explain to you every single detail about your home insurance policy. If you reside in Orlando, FL call (321) 332-7090 and find out more about their services and specials.