Understanding your homeowners insurance.
Just because you have homeowners insurance, doesn’t mean that it will protect you from everything. Unfortunately, many homeowners are not clear on the specifics of their coverage. To ensure that you understand your policy, here are the answers to some of the most common home insurance coverage questions.
Does home insurance cover water damage?
When it comes to water damage, homeowners insurance covers certain types but not others. For instance, if the cause of water damage is sudden and accidental, then it will be covered by your insurance. For instance, if your washing machine suddenly breaks down or a pipe suddenly bursts, then your insurance will cover the water damage caused by this event, including the damage caused to your personal possessions.
However, your home insurance will not cover water damage if it is the result of your negligence. For instance, if you have a pipe that is slowly leaking, and you do nothing to fix it, then your home insurance will not offer coverage for the resulting water damage. Additionally, your home policy specifically excludes coverage for the water damage caused by water backup and floods. You can secure coverage for these exclusions through policy endorsements and specialty flood policies, respectively.
Does home insurance cover roof damage and leaks?
Your home insurance will cover roof leaks depending on the cause of the leak. If the leak is the result of sudden, accidental events, then you have coverage. For instance, if your roof starts to leak due to falling trees, windstorms, hail, vandalism, or so on, then you will have coverage for repairs.
Damaged roofs are not covered when they are the result of gradual deterioration and lack of maintenance. For instance, your home insurance will not offer coverage if roof damage is caused by the following:
- Mold, fungus, or wet rot
- Deterioration, neglect, and/or inadequate maintenance
- Birds, vermin, rodents, or insects
Please note that, while you will not have coverage for your roof, your policy may extend coverage for the other losses caused by a damaged or leaky roof. For instance, water-damaged possessions may be covered by your homeowners insurance.
Does home insurance cover theft?
Homeowners insurance covers theft both inside and outside your home. For instance, if someone broke into your home and stole your television, then you would have coverage to replace your television and repair the damages the burglars caused. If your phone was stolen while you were traveling, then your home insurance would also cover the cost of replacing your phone.
Homeowners insurance will only cover your belongings up to a certain coverage limit. So, if you have high-value items that exceed these limits, then they will not be covered by your policy. You can secure additional coverage for high-value items through policy endorsements or by securing specialty policies for specific items.
This is what your policy will cover when it comes to these common types of home damage events. Do you have more questions about your homeowners insurance? If so, then contact the experts at James Page Insurance. We are ready to assist you with all your home coverage needs today.