These are some of the surprising things that could lead to your home insurance policy being cancelled.
Many homeowners might be surprised to learn that they can actually lose their home insurance coverage. In fact, there is a surprising number of things that can result in your insurer denying your coverage or even cancelling your policy. Here are some of the things that you should avoid if you want to keep your coverage.
Going Away for a Long Time
If you are going to be away from your home for an extended period of time, you need to report your absence to your insurer. Generally, home insurance policies include a set of terms detailing what you need to arrange for your home during your time away. If you do not meet these requirements and your home sustains damage, your insurance provider may deny you coverage and could even cancel your policy.
Failing to Report Home Renovations
Anytime you make major changes or renovations to your home, you need to inform your home insurer. This is because renovations increase the value of your home and, if you don’t update your policy, it may not offer you enough coverage for your home’s updated value. So, if your insurer finds out that you have made home renovations without informing them, you could be at risk for your policy being voided.
Running a Business Out of Your Home
Finally, running a business from your home could affect your home insurance coverage. Most homeowners insurance policies actually include a clause that refuses coverage for commercial-based claims. This means that your policy will not cover any claims relating to your business, its property, or its customers. If you need coverage for your home business, you will need to secure a separate business insurance policy.
These are some of the things that could compromise your homeowners insurance coverage. Do you have additional questions regarding your homeowners insurance policy? If so, contact the experts at Pierce Insurance Group for assistance today.