Making Sure You Know Your Home Insurance Policy
Having homeowner’s insurance is something essential to everyone who owns a home. Keeping your possessions and yourself safe during a disaster is extremely important. However, there are many things that may happen to your home that your insurance policy may not cover. Make sure you know what your homeowner’s insurance policy does cover, and consider adding extra protection on some of these other exclusions.
Flood/Water Damage- Your home policy may cover some water damages, but that usually excludes flooding. Getting a flood policy would be necessary if you live near an ocean, river, lake, or pond that could potentially flood. However, like happened in Cedar Rapids in 2008, many people who thought they would never be affected by a flood disaster were directly impacted. Be sure to look up whether you currently reside in a flood zone, and if you are, be sure you’re covered.
Earthquakes- Damages from earthquakes are usually not covered in your home policy. To be covered for all earthquake damages, be sure to add an earthquake insurance policy this year. Also be aware of where major fault lines are; they are not only in California. For example, did you know one of the biggest fault lines in the country, the New Madrid fault line, runs right through Missouri?
Trampoline and Treehouses- Your home policy does not cover injuries from trampolines and treehouses. According to the Consumer Product Safety Commission, the number of trampoline related injuries has tripled in the past decade. These toys have been deemed by many insurance companies ‘too high-risk.’
Jewelry/Antiques/Art- Some cost of these items may be covered in your home policy. However, if you have a plethora of fine jewelry, consider a separate luxury home insurance policy.
Boat Theft- If your boat is stolen from your house, it is most likely covered by your home insurance policy. If it is stolen anywhere else, however, it is not covered. This would include parking lots at restaurants or grocery stores.
Having a Dog- Your insurance company cannot look past owning a potentially dangerous pet. Having a breed of dog such as a Pit Bull, Doberman, Rottweiler, or dogs with a bite history could impact whether you can be insured. Having a ‘high-risk dog’ can cause your rate to be higher, or denied.
Food- If your power goes out and causes the food in your refrigerator to spoil, your home insurance policy will not replace your food or the cost of the food.
Having a Pool- Most home policies will cover your pool; however, your payment may go up. Having a diving board or slide can cause you to be denied.
When you are ready to get your home insurance policy, make sure you know what will be covered and what you want to be covered. Talking with an agent from TrueNorth can help put your mind at ease and make sure you are entirely covered for anything that could potentially happen. To find the right policy that matches your individual needs, call TrueNorth at 319-364-5193.