Hidden Risks Most Homeowners Forget to Insure Against

Homeowners insurance is a critical solution that can help financially protect your most valuable asset. However, many policies have gaps in coverage for lesser-known risks. Knowing what your homeowners insurance policy covers and what it doesn’t can help you prepare for the unexpected. Reach out to your insurer for more information and to explore additional endorsements.

What Homeowners Insurance Covers

A standard homeowners insurance policy may include the following coverages:

• Personal property coverage may help pay to replace your personal belongings, such as appliances, clothes, and books, if they’re damaged or stolen.
• Dwelling coverage may cover the structure of your home, including walls and built-in appliances, from damage caused by hail, fire, windstorms, and other covered incidents.
• Liability protection may financially assist if you cause accidental injuries or property damage to third parties on your property.
• Additional living expenses may help pay for hotel stays, meals and other costs if your home is temporarily uninhabitable due to a covered event.
• Other structures coverage may help with damages to unattached structures on your property, such as fences and sheds.

What Homeowners Insurance May Not Cover

The following may not be covered under your homeowners insurance policy:

• Sewer and drain backups—Most standard homeowners insurance policies don’t cover water damage from sewer backups without a specific endorsement.
• Earthquakes and floods—Most homeowners think natural disasters are covered by their policies, but earthquakes and flood damage are typically excluded from standard policies. You may want to consider purchasing separate flood or earthquake insurance.
• Pet liability and dog bites—Not all homeowners policies cover dog incidents or certain dog breeds. Check with your insurer to make sure your coverage includes pet liability if you have pets.

Contact Us

Having a robust homeowners insurance policy can be a great way to prepare for the various risks that come with owning a home. However, it’s important to understand exactly what is and isn’t covered under your policy. The professionals at Matt Roenker Insurance Agency in Virginia Beach, VA can help you identify any coverage gaps and make sure you have the proper coverage for your needs. Contact us today for a personalized quote or more information.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.