Get Insurance Quote Today

Find the Lowest Insurance Quote. Get the Lowest Insurance Rates. Get up to 5 Insurance Rates to Compare. Compare Insurance Coverage Plans. Pick the Insurance policy that is best for you. Pay the lowest price for the plan you choose.

Understanding Homeowner's Insurance Exceptions

If a fire, flood or earthquake, or some other natural disaster were to destroy or damage your home, would you have the right insurance coverage to rebuild your home?

There are a number of factors you should consider when purchasing any product or service, and insurance is no different. First and foremost, purchase the amount and type of insurance that you need and no more. You must determine the amount of personal property insurance and personal liability coverage that you need. Second, determine which, if any, additional personalization you want to add to your policy.

Once you have decided on the coverage and amounts you want in your homeowner's insurance policy, make sure you understand what is covered and what is not and how. There are some items in your home that are covered using a "actual cash value" clause and others that will be covered under the "replacement cost value" method. Make certain that you understand the difference between both and know what in your home is covered under each.

Are you covered for direct losses due to fire, lightening, wind storms, smoke, etc? A homeowner's policy provides broad coverage for these and other disasters or "perils" as they are called in the policy. However, you should check the dollar limits of insurance and make sure you are comfortable with the amounts for each item. There may be some restrictions on your coverage for certain "perils" depending on where you live. In areas prone to hailstorms, you may have a specific hail damage deductible.

If a pipe bursts in your home and water floods your floor, are you covered? It is important that you understand what is covered and what is not covered. The homeowner's policy covers you for accidental discharge of water from a plumbing system. You should check your plumbing and heating systems once a year because although you are covered for damage, why would you want the hassle and the mess?

What if water seeps into your basement from the ground? Water seepage is included under the homeowner's policy and if the water seepage is not due to a flood it will not be covered under a flood policy. Seepage is viewed as a maintenance issue and is not covered by insurance. You'll need to contact a contractor about waterproofing for this one!

If a tree falls and damages my roof during a storm, is that a covered expense? Generally, most policies cover the home for the damage to the roof. Also covered would be the costs associated with removal of the tree, up to $500.00. While it's true that insurance covers the cost of falling trees, be careful to trim or eliminate dead or dying trees around your home, falling trees can harm your family, too.

If your golf clubs are in the trunk of your car and these are stolen, do you know whether or not your homeowners insurance cover the loss? Personal property is covered no matter where it is. However, if the golf clubs are old, the current value is all that will be reimbursed to you, which might not be enough to buy a new set.

All of these questions are important to determine before they happen. Make sure that you know what is covered under your homeowner's policy and what is not covered! If your policy provides less coverage than the homeowner's policy, maybe because the policy is old or what have you, review your coverage with your agent.