Generally, flooding is not included in standard homeowners insurance. Most people have learned this after the Alberta floods. But most people do not know some of the other situations in which home insurance does not provide coverage. We will go over a few of the property exclusions that are part of standard homeowners insurance:
Structures used for business aren't covered by standard homeowners insurance. Keep in mind that all claims for business on your property will likely be denied by your insurance adjustor. 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.
Standard policies do not cover pets, whether they are injured or are the victim of a theft. However, injuries caused by your pet are covered. If your dog bites someone, for example, and the injured person decides to sue, your personal liability insurance would cover you. However, you might need extra coverage for certain dog breeds, so let your agent know what kind of dog you own.
If there are losses on your property that would not have been incurred if you had taken measures to protect from further damage, these will be excluded. What does that mean exactly? 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. But you're also not covered for water backup. Say a drain or a sewer backs up or a sump pump in your basement fails. Specific coverage for these things must be purchased if you want to avoid paying for these costly damages yourself.
If you lease space in your home or even just have a boarder who isn't related to you, his or her property is not covered by your homeowners insurance. 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.
Ask your agent about the exclusions in each policy you consider. Preparations can be more easily made if you know what you are covered for, and what you are not.
Structures used for business aren't covered by standard homeowners insurance. Keep in mind that all claims for business on your property will likely be denied by your insurance adjustor. 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.
Standard policies do not cover pets, whether they are injured or are the victim of a theft. However, injuries caused by your pet are covered. If your dog bites someone, for example, and the injured person decides to sue, your personal liability insurance would cover you. However, you might need extra coverage for certain dog breeds, so let your agent know what kind of dog you own.
If there are losses on your property that would not have been incurred if you had taken measures to protect from further damage, these will be excluded. What does that mean exactly? 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. But you're also not covered for water backup. Say a drain or a sewer backs up or a sump pump in your basement fails. Specific coverage for these things must be purchased if you want to avoid paying for these costly damages yourself.
If you lease space in your home or even just have a boarder who isn't related to you, his or her property is not covered by your homeowners insurance. 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.
Ask your agent about the exclusions in each policy you consider. Preparations can be more easily made if you know what you are covered for, and what you are not.
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This article collected, selected and written by: Author Van Hoc
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