When purchasing a home insurance policy, it’s easy to get overwhelmed with all the options, costs, and fine print. Oftentimes, it seems consumers just go with the cheapest policy they can find without thoroughly examining all the ins and outs. Then, when disaster strikes, they find themselves up a creek without a paddle. Let’s take a look at six things that you need to double-check before signing your policy as they may not be covered.
Pools, Trampolines and Tree Houses
If your property has any of these things, you may not have even thought twice about whether or not they were included in your coverage. If little Timmy next door comes over to play and breaks his leg, you might be the one forced to bear the financial expense.
One of the most common items not covered is earthquake damage. In most situations, it is an entirely separate policy. Whether you live in a zone where quakes are commonplace or somewhere that hasn’t had one in many years, it is never a bad idea to be protected from the “what if.” I highly recommend at least researching earthquake protection.
Floods are another often-overlooked coverage. For example, did you know that 20 percent of flooding occurs in moderate to low-risk zones? What’s worse is that standard policies won’t cover it as an “act of nature” in most situations. Call your agent to see if you’re covered. If not, you will benefit greatly from looking into the government’s National Flood Insurance Program.
Let’s say you have a hail storm that breaks windows and causes a tree to fall on your car and house. Did you know that many standard policies have an “anti-concurrent causation” clause that can free them from covering any of the damage that occurs? Read the fine print of your policy to make sure you won’t fall victim to this clause.
Jewelry, Cash, Collectibles
Most policies have coverage for all of these things, but it is very limited. For example, more than $200 in cash on hand isn’t covered most of the time. Jewelry, art, and collectibles are also typically limited. Make sure that your coverage exceeds the worth of your prized possessions.
Your dog may be your best friend, but he could be the mailman’s biggest nightmare. If your dog bites someone, your insurance may not cover the damages. Many companies have breed restrictions that could mean your German Shepherd’s damage is all out-of-pocket. Be certain that you are clear on your protection against your pup.
Doing a little research before purchasing your homeowner’s policy on the front end could save you a lot of money in the long run. Read your entire policy and if your plan falls short, contact an agent to get the coverage you need now, before it’s too late. Call Integrity Network Insurance Group, LLC at 512-989-6006 with any questions you have about what your Round Rock Home insurance does and does not cover.