02:18:00
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. In fact, any claim related to a business on your property could be denied. Take note of this if you run an informal day care or make jewelry or operate a catering business in your residence.
Pets are not generally covered, whether they are stolen or injured. But if there are injuries caused by your pet, this will be included. In a case where a dog bites someone, your personal liability insurance would protect you if the injured person files a lawsuit. Certain breeds of dogs are not included in standard coverage, so go over this with your insurance agent so you are not left holding the bill.
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 specifically? If you do not call the fire department when there is a fire on your property, your losses will not be covered. 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.
You can't file a claim based on losses caused by an outage of electricity - say, if your frozen food thaws and is ruined because of an outage.
You know you're not covered for floods - technically called damage due to rising waters. 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. If you would like to be covered for these possibilities, you will need to pay for additional coverage, otherwise you will need to pay for the damages on your own.
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. Boarders or renters must take out their own insurance coverage in case the home is damaged by fire or other covered perils and damage is done to their property.
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. And sinkholes and mudslides also typically aren't covered by home insurance.
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. In fact, any claim related to a business on your property could be denied. Take note of this if you run an informal day care or make jewelry or operate a catering business in your residence.
Pets are not generally covered, whether they are stolen or injured. But if there are injuries caused by your pet, this will be included. In a case where a dog bites someone, your personal liability insurance would protect you if the injured person files a lawsuit. Certain breeds of dogs are not included in standard coverage, so go over this with your insurance agent so you are not left holding the bill.
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 specifically? If you do not call the fire department when there is a fire on your property, your losses will not be covered. 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.
You can't file a claim based on losses caused by an outage of electricity - say, if your frozen food thaws and is ruined because of an outage.
You know you're not covered for floods - technically called damage due to rising waters. 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. If you would like to be covered for these possibilities, you will need to pay for additional coverage, otherwise you will need to pay for the damages on your own.
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. Boarders or renters must take out their own insurance coverage in case the home is damaged by fire or other covered perils and damage is done to their property.
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. And sinkholes and mudslides also typically aren't covered by home insurance.
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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