Home Insurance Coverage: What's Not Covered

Home insurance doesn’t cover earthquakes and flooding. Earthquake insurance and flood insurance are separate policies. Your renters insurance also doesn’t cover earthquake and flood. If you want all your belongings covered in the event of these two disasters, you’ll want to add both earthquake and flood insurance to your home or renters insurance. Even if you don’t live near the ocean or in an area that is especially prone to flooding you may want to be sure in case there is even one inch of rain accumulation, which can wreak havoc on your home.

Mold damage is generally not covered or if it is it is only partially covered because it’s a condition that can be prevented. If you experience flooding or any kind of water damage, it’s recommended that you take care of the leak immediately and get rid of all moisture, which will eventually turn into mold.

Sewage backup can also be expensive to fix because it can damage floors, walls and your personal belongings, including furniture. Sometimes electrical systems are also affected too. You can buy additional insurance to cover you for a sewer backup but a standard home insurance policy won’t cover this peril.

You are covered in the event of a hailstorm, if it damages the exterior of your home.

Sinkholes are not usually covered by homeowners insurance in the same way that earthquakes are not.

If you hire a contractor to do work on your home and they cause damages, you will not be covered for losses.

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If you store expensive jewelry or art in your home, there will be limits on your homeowners insurance, making it likely that you will not be covered for these losses unless you had a rider or endorsement on expensive items and equipment.

Termites are not covered by homeowners insurance. It’s always a good idea to have a pest control company inspect your home every couple of years before major damage is done.

If you store large quantities of cash in the house and you have, say, a fire, there is no way of proving you had a pile of cash that turned to ashes. Keep your money in a safe place.

The liability portion of a homeowners insurance policy often covers dog attacks unless your dog is of an “aggressive breed.” Restrictions are usually explicitly detailed in a policy.

Keep in mind that even though all of these events are covered, you’d have to pay a deductible first to have your claim paid. Your deductible may be as much if not more than what it would cost to take care of the repair yourself. Also, insurers frown upon multiple claims made by a single insured so you’ll be jeopardizing your coverage if you file too many claims. You may even get dropped by the insurer.

Homeowners insurance does not cover earthquakes, landslides and floods but if there is a fire in your home after an earthquake, you’ll likely be covered by your homeowners insurance.

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