| If the neighborhood hoodlum commits arson on | | | | exclusion lists. If you believe your home might be |
| your old rickety wooden shed, your homeowners | | | | particularly susceptible to mold, be sure and have |
| insurance policy will most likely cover a | | | | a close look at your insurance guidelines or call |
| replacement shed. If you have a slow leak in a | | | | your insurance agent. |
| pipe behind your shower, your insurance company | | | | #4 - The Wrath Of Nature |
| is expected to pay for the collateral damages. | | | | Natural disasters can strike without warning and |
| Same if lightening burns your pink flamingo lawn | | | | demolish an entire city. If your area is a regular |
| ornament to the ground, a volcano eruption tears | | | | target of weather disasters(earthquakes, floods, |
| through your basement, or if your little dog Blue | | | | typhoons, etc) you should check with your |
| bites the mailman. My hope is to inspire you to | | | | provider to ensure that resulting damages are |
| take another look at your policy, and to give you | | | | covered. That will leave you the homeowner the |
| some ideas of what to look for. | | | | added responsibility of finding an additional |
| You'll probably be startled once you observe that | | | | insurance policy (e.g. earthquake insurance). |
| your homeowners policy itemizes 'exclusions' for | | | | It's worth highlighting this exclusion can also include |
| which your insurance company won't cover. Keep | | | | fires if your home is located near a forest or |
| in mind every insurer treats exclusions differently. | | | | similarly wooded area. If you happen to live near |
| If yours refuses to cover something, it may be | | | | a fire station, your insurer will be more inclined to |
| time to look for another provider. Considering the | | | | offer coverage. |
| above, I'll quickly outline some extremely common | | | | #5 - Injury Due To Certain Dog Breeds |
| things that often get waived on a home insurance | | | | Each year, canines cost home insurance |
| policy. | | | | companies hundreds of millions of dollars. Although |
| #1 - Damage Due To Sewage Backflow | | | | insurance will cover many common dog bites, the |
| A backflowing (and overflowing!) toilet can be | | | | breed of dog might change the outcome in this |
| revolting. Even more disheartening, there is a high | | | | matter. Some canine breeds are often prevented |
| probability that the resulting smelly mess isn't | | | | from coverage. For example, standard poodles |
| included in your coverage. A lot of policyholders | | | | and beagles are known as relatively safe dogs. |
| are unaware insurance companies often reject | | | | Conversely, your insurer might not be interested |
| claims for damages when the root cause is a | | | | in insuring your well socialized and friendly |
| problem with the sewage line. That said, you may | | | | rottweiler. |
| be able to purchase an inexpensive rider that | | | | Check with your insurer. Every home insurance |
| closes this coverage gap. | | | | provider maintains their own set of exclusions. |
| #2 - Negligence And Lack Of Maintenance | | | | Your current provider might recoil at the thought |
| Insurance companies normally cover damages | | | | of covering your Rottweiler while another |
| that result from unforeseen circumstances. | | | | company may be willing to do so. |
| Nonetheless, if you incur damages which can be | | | | #6 - Heirlooms, Collectibles, And Other Precious |
| deemed partially due to carelessness, you might | | | | Items |
| not be compensated for your damages. For | | | | Suppose your home catches fire and burns to the |
| example, suppose your kitchen faucet develops a | | | | ground with your comic book collection, baseball |
| leak. If you don't get the leak fixed immediately | | | | card collection, and precious coins inside. Chances |
| and it wrecks your basement ceiling, your | | | | are, these items will only be covered at a fraction |
| damages might be deemed caused by neglect. | | | | of their value. Consider buying a supplemental |
| They often contend that you should've repaired | | | | policy that offers coverage that reflects their true |
| the drip before things escalated. | | | | worth. Otherwise, you might receive pennies on |
| #3 - Damage Due To Mold | | | | the dollar - cold comfort in the wake of a major |
| Several years ago, the late American celebrity Ed | | | | loss. |
| McMahon filed a claim with his home insurance | | | | When it comes to home insurance, the most |
| company for damages related to mold. That claim | | | | common mistake people make is to neglect |
| eventually turned into a lawsuit. When the dust | | | | checking their policies for specific exclusions. Don't |
| had settled, McMahon finally agreed to | | | | assume everything under your roof is covered. |
| compensation totaling close to eight million dollars. | | | | Check to make sure. If your insurance provider |
| Today, many insurance companies either | | | | isn't willing to cooperate in meeting your insurance |
| significantly raise their premiums when covering | | | | requirements it's time to find someone else. |
| mold-related damages, or simply add mold to their | | | | |
