Standard homeowners insurance typically does not cover flooding. After the floods in Alberta, many people now realize this. But most people do not know some of the other situations in which home insurance does not provide coverage. Following are some of the personal property exclusions, but not necessarily all of them, from standard homeowners insurance:
A structure that is part of a business is not protected by a standard home insurance policy. In fact, any claim related to a business on your property could be denied. Keep this in mind if you have a home business of any kind, no matter if it's a simple mail-order business or a larger catering company.
Injuries to or theft of pets is not covered in standard policies. However, injuries caused by your pet are covered. If you have a dog that causes injury to someone by biting them and a lawsuit is the result, you will be covered by your personal liability insurance. There are some dog breeds that would require additional coverage, so speak to your insurance provider about your dog's breed.
If you have neglected to properly protect your property in order to minimize further damage, this will not be included in your coverage. What does that mean specifically? Losses will not be covered if you have a fire in your home or on your property and you do not call the fire department. If your roof is damaged by a tree that falls and you neglect to protect your things from the rain that comes in after, coverage for those things will not be provided.
Power outages are also not covered by the policy, for example, if your frozen food is ruined because of a power outage, this will not be covered.
Standard policies also do not protect against damage due to rising waters, which most people simply call flooding. Water backup is also not included in typical coverage. Say a drain or a sewer backs up or a sump pump in your basement fails. If you would like to be covered for these possibilities, you will need to pay for additional coverage, otherwise you will need to pay for the damages on your own.
The property of a boarder in your home, or someone who is leasing space will not be covered by your homeowners insurance policy. If the property of a renter or boarder is damaged by an insured peril like fire, they will not be covered unless they have taken out their own separate insurance policy.
Similar to floods, earthquakes aren't covered by standard homeowners insurance. That means if you live in an area prone to earthquakes, you need earthquake insurance. Standard homeowners insurance does not cover mudslides or sinkholes.
Speak with your insurance agent about what exclusions are listed in the policy. Preparations can be more easily made if you know what you are covered for, and what you are not.
A structure that is part of a business is not protected by a standard home insurance policy. In fact, any claim related to a business on your property could be denied. Keep this in mind if you have a home business of any kind, no matter if it's a simple mail-order business or a larger catering company.
Injuries to or theft of pets is not covered in standard policies. However, injuries caused by your pet are covered. If you have a dog that causes injury to someone by biting them and a lawsuit is the result, you will be covered by your personal liability insurance. There are some dog breeds that would require additional coverage, so speak to your insurance provider about your dog's breed.
If you have neglected to properly protect your property in order to minimize further damage, this will not be included in your coverage. What does that mean specifically? Losses will not be covered if you have a fire in your home or on your property and you do not call the fire department. If your roof is damaged by a tree that falls and you neglect to protect your things from the rain that comes in after, coverage for those things will not be provided.
Power outages are also not covered by the policy, for example, if your frozen food is ruined because of a power outage, this will not be covered.
Standard policies also do not protect against damage due to rising waters, which most people simply call flooding. Water backup is also not included in typical coverage. Say a drain or a sewer backs up or a sump pump in your basement fails. If you would like to be covered for these possibilities, you will need to pay for additional coverage, otherwise you will need to pay for the damages on your own.
The property of a boarder in your home, or someone who is leasing space will not be covered by your homeowners insurance policy. If the property of a renter or boarder is damaged by an insured peril like fire, they will not be covered unless they have taken out their own separate insurance policy.
Similar to floods, earthquakes aren't covered by standard homeowners insurance. That means if you live in an area prone to earthquakes, you need earthquake insurance. Standard homeowners insurance does not cover mudslides or sinkholes.
Speak with your insurance agent about what exclusions are listed in the policy. Preparations can be more easily made if you know what you are covered for, and what you are not.
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