Your homeowners’ insurance covers you for significant damage that occurs under certain circumstances. Unfortunately, homeowners’ insurance does not cover you in many key areas. To understand the best way to protect your home, first you need to know what your insurance policy does and does not cover.
Homeowners’ insurance covers damage that occurs because of natural disasters and calamities, right? Not necessarily. Certain types of natural disasters, including earthquakes, do not fall under that umbrella. If you live in a state prone to earthquakes, like California or Washington, you need separate earthquake insurance.
Flooding is another natural disaster homeowners’ insurance does not cover. In some parts of the country where flooding is common, mortgage companies require homeowners to buy separate flood insurance along with homeowners’ insurance. However, just because you’re not required to get it doesn’t mean you’ll never need it.
Though some of the causes of mold, such as roof damage that results in a leak, are covered under homeowners’ insurance, mold itself is not. If your home has a mold problem that you discover at some point during your occupancy, your homeowners’ insurance won’t pay to remediate it. Fixing mold can prove quite expensive, and you’ll have to pay for all of it. The best defense against mold is to get a regular inspection so you can catch problems early.
Image via Flickr by 148 Straith Street Staunton, VA 24401
Unless your appliances are damaged in a covered natural disaster or calamity, your homeowners’ insurance won’t cover problems with them. Appliances break down for myriad reasons, most of which aren’t related to calamities. The evaporator coil might malfunction on your air conditioner, for example, or your dishwasher might spring a leak. If you want appliance coverage, look for a home warranty from TotalProtect. Home warranties are designed to cover plumbing, electric, and appliance repairs that homeowners’ insurance does not cover.
Anyone who’s had termite damage in their home would call it a calamity. However, homeowners’ insurance companies don’t, and they won’t cover termite extermination. Like with mold, your best bet for protecting yourself against termite damage is to be vigilant. Learn the signs and watch for them. When you hire a pest control company to spray for bugs, have them check for termite damage.
You may have noticed that homeowners’ insurance policies aren’t keen on covering water damage. Sewer backups, the kind that happen thanks to a clog and result in a flooded basement, aren’t covered, either. Like with flood insurance, you can buy a separate policy that covers sewer backup damage. If you have a basement, this additional coverage is a good idea.
Protecting your property is a smart move. Otherwise, repair costs will come out of your pocket. Shopping around for additional ways to protect your home isn’t the most exciting weekend activity. It will, however, make you feel at peace once you find good coverage. Then you can relax with your favorite TV show, knowing your house is well protected.