When home insurance doesn't protect as you expect
Home insurance is essential to protect your home, but it doesn't cover all claims. Sometimes, after years of payments, there are unpleasant surprises. The key is to understand your coverages and exceptions before you sign. Some common claims that are often left out of policies include:
- Wear and tear and aging: Your insurance does not cover damage due to wear and tear or aging, such as peeling paint or worn furniture. Maintaining your home is the responsibility of the homeowner.
- Intentional damage: If someone deliberately damages your property, such as breaking tiles, the insurance will not respond.
- Flooding: Most policies do not include flood damage. Consider additional flood insurance.
- Damp: Damage from damp, unless it is the result of a covered loss, is usually excluded from coverage.
- Pests: Damage from pests such as termites or cockroaches is rarely covered. Check your policy.
- Maintenance problems: Preventive repairs or lack of maintenance are not covered.
- Damage caused by pets: Bites or scratches in the home are generally not covered, but the new Animal Welfare Act may change this.
- Claims caused by tenants: Damage to tenants' property is generally not covered. Make sure your tenants have their own insurance.
Remember that policies vary by company, so talk to your insurance agent and adjust your coverage according to your needs. For specific risks, such as floods or earthquakes, consider additional policies or extensions of coverage. Prevention and knowledge are key to protecting your home.
