While having insurance can be a life-saver, there are still limits to what insurance policies will cover. If insurance companies covered every possible kind of damage to a home, there would no longer be insurance. Why? Because insurance companies would be paying out so many claims that they would eventually go bankrupt. For this reason, insurance companies have very carefully worded contracts that state what is and what is not covered by your policy. If you’ve never read the contract of your insurance policy, you should read it for your own benefit.
There are multiple kinds of home insurance policies and coverages that vary depending on your insurance company. The following is a short list of risks that are typically excluded from a homeowners policy.
Remember: potentially, there are many more risks that may not be covered by your policy. Always call your independent agent with questions regarding coverages. It’s important that you know what your policy includes and excludes.
We are lucky for the risks that insurance companies do provide coverage for. Without our insurance policies, the quality of our lives would decrease tremendously with the event of a major loss. This information is simply to make you aware and better prepare you for future incidents.
By: KayLynn P.