Old Bay Insurance Agency Blog
It is sad that many people have not actually read the details of their homeowners insurance policy. Thus, they end up arguing with the insurance company when the disaster has already struck their homes. Many would then be too disappointed to know that a homeowners insurance policy does not cover their present concerns. As a responsible homeowner, you should know what most home insurance policies do not cover.
Molds and Termites
Mold coverage is usually not covered or generally limited by the homeowners insurance policy. However, if you are willing to pay more, then some insurance companies are willing to increase coverage for mold damage. Moreover, when it comes to termite infestation, the best thing to do is to make sure that it does not happen. Usually, molds and termites grow in areas left wet for a long time.
Your homeowners insurance does not cover damage caused by earthquakes. Thus, it is important not to choose a house in quake-prone areas. There is earthquake insurance, but it does not cover everything you have lost. Floods are also seldom covered by homeowners insurance, but you can pay extra for flood insurance. Moreover, sinkholes are also not covered, but it basically depends on state laws.
Sewer and Construction Damage
If a sewer causes serious damage to the walls, floors, and furniture, then it becomes an issue because this is usually not covered by your homeowners insurance. You need extra coverage to deal with sewer backups. The same thing goes with construction work damage. The contractor that you hired should be licensed for any form of liability.
Loss of Valuable Items
In case you lost your jewelry, fine art or other expensive collectibles to a robber, you should know that your homeowners insurance policy does not cover these. You need to get insurance riders separately if you want to insure stolen goods in your house. When you have destroyed or stolen cash, usually it is never replaced. Thus, you need to keep it in a safe place.
Some Final Words
It is a wise thing for you to read your homeowners insurance policy and what it does not include in its coverage. This can save you the trouble of arguing with your insurance provider later on. More importantly, this can give you an idea about what else to prepare in order to protect your home, like paying for extra insurance riders.
At Old Bay Insurance Agency, Inc, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (410) 777-5390. Get your free quote today by CLICKING HERE.