What Your Home Insurance Will and Will Not Cover

What your homeowners insurance covers when it comes to these common risks.

As a homeowner, you expect your insurance to have your back.  Unfortunately, all insurance policies have limits, and your homeowners insurance is no different.  To ensure that you are not caught off guard, here is what your homeowners insurance will and will not cover when it comes to these common perils.

  • Does home insurance cover theft?

Homeowners insurance covers theft both inside and outside your home.  For instance, if someone broke into your home and stole your television, then you would have coverage to replace your television and repair the damages the burglars caused.  If you were robbed while traveling, then your home insurance would also cover the cost of replacing your stolen belongings.  Please note that homeowners insurance will only cover your belongings up to a certain value limit.  So, if you have high-value items that exceed these limits, then they will not be covered by your policy.  You can secure additional coverage for high-value items through policy endorsements or by securing specialty policies for specific items.

  • Does home insurance cover hurricane damage?

If your home is in the path of a hurricane or tropical storm, then your home may sustain damage from high winds, heavy rain, and extreme flooding.  Fortunately, your home insurance policy will offer coverage for the damages related to wind, rain, and hail.  However, if your home is damaged by floodwater, then your policy will not offer coverage for repairs.  The only way to secure flood coverage is with a specialty flood insurance policy.

  • Does home insurance cover mold?

Mold in your home is covered by your insurance is it is caused by a covered loss.  For instance, mold is covered if it is the result of fire, lightning, ice, frozen pipes, or another covered peril.  Additionally, mold repairs and remediations are only covered if it is caused by something sudden and accidental.  For instance, if you did nothing about a leaking pipe and mold formed, then you would not have coverage because the mold growth formed as a result of your negligence.  Mold is also not covered when it grows over time.  For instance, if mold pops up in your shower or tub or around other perpetually damp places in your home, then it is not covered by your policy.  This is because this mold is considered a result of your lack of maintenance.

This is what your home insurance will cover when it comes to these common perils.  Do you have further questions about your home coverage?  If so, then contact the experts at Pierce Insurance Group for assistance today.

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