Standard home insurance in Maumee and Perrysburg also referred to as homeowners insurance provides coverage for a home against a number of risks. There is some prominent exclusion too. Having knowledge of what’s covered and what isn’t would let homeowners save a huge amount of money and also headache down the road.
Here are some things that are not covered under a typical homeowners insurance policy.
Water and earthquake damage – Sinkholes, earthquake or other natural earth movements typically aren’t covered under a standard homeowners insurance policy. To add coverage for financial damages owing to an earthquake, earthquake insurance may be bought as an endorsement against an additional fee. This facility is available in all American states except California. For water damages caused by a flood or a mudflow, flood insurance should be bought separately. Other types of water damages like backups from the sump pump, drains or sewer system are also excluded though can be included by means of a separate endorsement.
Damages owing to improper maintenance – Taking good care of the property can keep the homeowner from having to break the bank for expensive home repairs that are not typically covered by a home insurance policy. A number of things which aren’t covered under such a policy usually result from negligence and improper maintenance of the property. Bird or rodent damages, borer, termite or insect damages, rot, rust, mold as well as general wear and tear aren’t covered by a typical home insurance policy. Besides, damages caused by smoke or smog from the agricultural or industrial operations also don’t come under the coverage of such a policy. If something has a hidden defect or is badly made, it would fall under inherent vice exclusion and that won’t get any coverage by a standard homeowners insurance policy. Mechanical breakdown also comes under the same exclusion clause.
Personal injury – Personal injury liability coverage which is otherwise designed to protect the policyholder from a lawsuit resulting from a non-physical injury like a slander or a defamation of character isn’t included to a standard homeowners insurance policy. However, this coverage can be separately bought without any hassle.
Other notable exclusions – Damages caused by a nuclear hazard of a war isn’t covered by a home insurance policy. Expenses incurred as a result of an identity theft also aren’t included to typical coverage unless the policyholder buys special coverage for them as an endorsement. If the policyholder is an owner of a watercraft and if it’s being stolen from his/her property, coverage of up to 1000 USD would be provided by the insurance provider. But if the same is being stolen from somewhere else other than his/her property, it won’t be covered. Also, most home insurance policies provide liability coverage for the watercrafts with capacity of less than 25 HP.
Be it business insurance in Toledo and Perrysburg or home insurance, shopping around and comparing quotes are recommended prior to buying any type of insurance to ensure getting maximum coverage against reasonable premium.