What does a standard homeowners policy exclude?

by joven222 » Tue Jan 13, 2009 04:54 pm

A standard homeowners policy excludes the following:

  • Flood: Flood is not covered under a standard homeowners policy. It is covered under a separate policy provided by the Federal government under the National Flood Insurance Program - NFIP through a few private insurance companies. The NFIP policy covers replacement cost coverage for the entire structure of your home and actual cash value coverage for what you possess. However, furniture and possessions stored in basement may have limited coverage. Residents of designated flood zone will need flood insurance. This insurance is available to renters and homeowners.

    Some private insurance companies may provide excess flood insurance coverage over the basic policy. You may purchase it from specialized companies or from regular homeowners insurance providers too. This policy will cover damages beyond the limits of the federal program based on replacement cost for structure and actual cash value for possessions. The excess flood insurance can be availed in any part of US - both in high risk zones as well as low risk zones in compliance with the federal program.

  • Earthquake: Damages due to earthquake too can be covered under a separate policy or as an endorsement to your renters or homeowners policy. Almost all insurance companies offer this policy. The California Earthquake Authority offers this policy in the earthquake prone state of California. However, the policy is offered with high deductible in this state.

  • Maintenance damage: Damage caused as a result of lack of maintenance, mold, and infestation of termite or other insects is not covered under this policy.


I bought a house and I am just curious if what is the most practical coverage I can buy as a property insurance. Do i really need to have fire, earthquake flood, and any other? Or there are something that you can recommend that is practical enough to save me money.


Total Comments: 15

Posted: Tue Jan 13, 2009 11:54 pm Post Subject:

Fire coverage is included in a homeowners policy. As far as earthquake insurance... do you live on a fault line? Well, if you did, you'd probably not be able to get earthquake insurance. No one can really "recommend" anything without knowing details about yourself, your location, your home, etc. This is why agents sell insurance, to advise you on such matters. So my recommendation is that you speak to an agent.

But... you bought a home and you don't already have insurance? There is no was anyone is going to loan you money to buy a home with insurance. Perhaps you paid cash?

Lastly, your signature is to a site that sells insurance... and you want to know where/how to buy property insurance? According to their website, they are all about saving people money. Again, this is _your_ sig!

Posted: Wed Jan 14, 2009 12:28 am Post Subject:

I would be more than happy to submit a reply to your question, but it appears that you may be an insurance agent.

Is that correct?

Posted: Wed Jan 14, 2009 05:29 am Post Subject:

Do i really need to have fire, earthquake flood, and any other?

If you are living in the flood and/or earthquake zone then definitely you need to buy coverage for these perils. Standard HO plans don't cover damages caused by flood and earthquake.

FIRM or the Flood Insurance Rate Maps describes flood prone areas. You can find out from it whether or not you are living in one such locality.

Additionally, the homeowner should also carry the Homeowners liability coverage to safeguard his/her interests against the probable lawsuits if someone gets injuries in his/her premises.

Hope this helps.


Posted: Fri Jan 16, 2009 11:33 am Post Subject:

Do i really need to have fire, earthquake flood, and any other?

It is your choice whether you want to purchase a particular insurance or not as long as it is not auto insurance. However, if you live in an earthquake prone zone you may face an earthquake. If you stay in a flood prone zone there too is a risk that you might face a flood. The effects of flood and earthquake can be devastating. If you want to protect yourself from the huge expenses that you have to make if disaster strikes, getting these two insurance would definitely be of help. Your general home insurance will not cover any devastation due to flood and earthquake. Hope I could help :)

Posted: Fri Jun 03, 2011 01:12 am Post Subject: CVxtvpBYGaByFQrMqr

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Posted: Fri Oct 21, 2011 12:07 pm Post Subject:

Is there any sort of home insurance policy that covers "maintenance damage"? I would have thought this was excluded across the board as failure of the insured to take reasonable precautions to prevent loss?

Is it possible to add these sorts of preils to a standard policy, or do you need to take out a more comprehensive form of cover which bundles some or all of them together?

Link removed as per TOU

Posted: Tue Oct 25, 2011 07:41 am Post Subject:

I don't think any standard home insurance policy covers 'maintenance damages' or even any riders are available to cover these.

Normal wear and tear and lack of maintenance is not covered by any insurance (that's what I know).

Posted: Wed Nov 09, 2011 08:20 am Post Subject: What is a Covered Property?

Hi all.

What is a Covered Property?

Generally, covered properties are divided into four separate categories. The definitions of the property, and the extent of coverage vary by state, company and product. So it is important for the consumer to understand the definitions of the covered property. The four separate categories for your home, as defined by insurance companies, are:

1. Dwelling – The structure of the house is considered a covered property.

2. Other Structures – These are structures that are separate from the house, or connected to the house by a fence, wire or other form of connection, but not otherwise attached to the dwelling, such as a tool shed or detached garage.

3. Personal Property – The contents of your home are your personal property. This includes furniture, appliances and clothing. Not all personal property is covered. Items more appropriately covered under different forms of insurance may have limited or no coverage for loss. These items include, but are not limited to, money, jewelry and firearms.

4. Loss of Use – When a loss occurs due to a covered peril and the dwelling becomes uninhabitable, the cost of additional living expenses is covered. Reimbursement of additional living expenses covers the cost to the insured for maintaining a normal standard of living.

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Posted: Wed Jan 18, 2012 09:32 am Post Subject: home insurance

Hi Sil,

I just bought my new house 3 months a go. What is the best home insurance you can suggest to me? I will be needing an insurance soon.

Posted: Fri Dec 07, 2012 08:28 pm Post Subject: Theft

Does home owners insurance usually exclude theft if it involves a family member?

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