What are the exclusions of homeowners insurance?
Your homeowners insurance covers for damages caused due to a disaster. It is meant to help you recover from a loss due to natural or man made disasters. However, there are definitely certain exclusions to homeowners insurance. It does not cover every peril. But you can still find protection against those perils by purchasing additional policies. The exclusions in homeoweners policy are:
Flood: A standard policy does not cover damage due to flood. It can only be covered under a separate policy that the Federal Government provides under the National Flood Insurance program or NFIP. You may get this program through a few private insurance companies. This program will pay for the cost of replacing the entire structure of your home and the actual cash value for your possession. If you are located in a designated flood zone you must get this additional insurance.
Earthquake: You can buy this additional policy from almost all insurance companies. California is prone to earthquakes and hence the deductibles in this state are sky high.
Maintenance damage: If you are not careful with your belongings, you might not be able to insure them. Insurance companies refuse to cover for damages caused due to lack of maintenance and infestation of termite or any other insects.
While all of us hope that no harm should befall us or our homes, it is also true that accidents happen without any warnings. Hence, it is always better to be prepared for what comes our way.
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