Most homeowners are surprised to learn that a basic home policy doesn’t include coverage for earthquakes or sewer backup. Up until some time ago, sewer backups were covered by standard policies. However, overland flooding can sometimes be considered beyond the insurance company’s capability to insure. The same goes for earthquake insurance; one large earthquake could lead to the end of an insurance company.
Standard home policies cover poor upkeep.
You should know that poor property maintenance is one of the many grounds for claim denial. That is why we recommend to those who are traveling for quite some time to have a friend check in on their home regularly to ensure that everything still works.
Bear in mind that home insurance policy is not a maintenance policy. Although some natural hazards can’t be avoided, other problems can be taken care of in the first place.
You can renovate your home without changing your policy.
It is important to note that home renovation or remodeling projects can affect your home insurance policy. If you’re adding a living space, you’re actually adding value to your home. Thus, you need to let your insurer know and get your insurance upgraded.
Your home insurance policy covers the entire cost of jewelry.
Standard home policies only cover theft or loss of jewelry up to certain limits. That may result to undervaluing of such precious items. Thus, it’s recommended to get your jewelry appraised and get additional coverage for them.
Insurance agents highly recommended homeowners like you to carefully read through and understand your home policies so you’d know what exactly you’re covered for. Here at We Insure Agency, we are in the business of assisting people to get the right home insurance they need. We offer consultations and premium calculation for free. Call us at (954) 431-9423 or visit us today.