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What Home Insurance Does and Doesn’t CoverDo you know the extent of coverage in your homeowners policy?

For most of us, a home is the biggest investment that we can make. Chances are it’s your most valuable asset, and you’re unlikely to have the available cash to cover your home repair should disaster strike.

As a result, homeowners purchase insurance to protect not only their investment but their finances, too. Providing financial protection, home insurance protects your home for disasters, accidents, and lawsuits.

Here’s what home insurance typically covers – as well as where your coverage may be lacking.

Typical coverage:
Many home insurance policies will cover damage caused by perils such as fire, windstorms, hail, lightning, theft, and vandalism. Including:

  • Dwelling Coverage: Pays to repair or rebuild your home, including electrical wiring, heating, and air conditioning if damaged by a covered cause of loss.
  • Additional Structures: Pays for damages to detached structures like garages, sheds, fences, and cottages on your property.
  • Additional Living Expenses: Pays for your additional housing and living expenses if you are unable to live in your home while it is being repaired.
  • Personal Property: Reimburses you for the personal items in your home that may have been damaged or destroyed by a covered peril.
  • Liability Insurance: Pays out if you’re found responsible for others’ injuries on your property or away from home.

What is Not Covered:
In most homeowners insurance policies, the following is not covered:

  • Floods: Support from damages such as overflowing rivers or torrential rain are not provided. Your home insurer may offer water backup coverage, which covers certain overflow and sewage issues. A separate flood insurance policy should be purchased for the necessary protection from floods.
  • Ground Movement: Earthquakes, landslides, and sinkhole aren’t covered under home insurance. Similarly, to floods, a separate policy can be obtained.
  • Mold: Home insurers won’t pay to fix mold damage if it’s caused by water associated with long-term leaks, poor home maintenance, construction defects, or natural occurring floods.
  • Infestations: Bedbugs, termites, mice, and other vermin are typically excluded from home insurance. It’s on you to rid your home of infestations and fix the damages.

Homeowners, do you have the most customized policy for your home and budget?

Don’t leave safety on the doorstep – your home can stay protected with the professional policies from Abbate Insurance. We serve homeowners within New Haven and surrounding cities in Connecticut! Contact us today to get started.

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