The best time to learn about what’s included in a basic homeowner’s insurance policy is before you have a claim. We’ve gathered the answers to the most common “Am I covered if…” questions about homeowner’s insurance policies to help you to minimize any coverage surprises.
- What property and perils are excluded from my policy?
Typically, coverage does not apply to damage caused by flood, surface water, water that backs up through sewers or drains, earth movement, nuclear damage, war, etc. Personal liability and medical payments do not apply to the operation, ownership, use, etc., of any aircraft, automobile, RV, water craft powered by more than 50 horsepower motor; bodily injury or physical damage caused by an intentional act of the insured.
- What happens if I have a fire? How do I collect for my personal property? Whether your policy pays for the replacement or just the actual cash value of your possessions, you will be paid for personal property that you can show you owned at the time of loss.
- If my sump pump fails due to water backing up through the sewers, am I covered? No, but you can easily add a sewer and backup endorsement to your homeowners policy to cover the loss.
- During a storm, a tree from my neighbor’s yard fell and destroyed my fence. Who pays for the loss? Generally, your own policy should cover the loss.
- If I have water damage from a rainstorm, am I covered? No, a separate flood policy is needed to covers losses to your property caused by flooding.
- What if I lose power and the food in my freezer spoils? A basic policy typically does not cover this loss; however, coverage for electrical outages is available for a nominal additional premium.
How can you be sure that you have the coverage you want? A complete review of your policy by an experienced insurance expert is the only way to determine the limits and inclusions of your homeowner’s policy, and that’s where we can help.