Homeowners Insurance: Covered or Not Covered?

​What is Covered
Your coverage will not kick in unless you experience a loss that is caused by a specific peril, or reason for loss, that your policy covers. For most policies, the list of covered perils includes:

• Fire, smoke, wind, hail, lightning, explosions.
• Theft or vandalism.
• Trees and other falling objects.
• Weight of ice, snow and sleet.
• Damage from an aircraft, car or vehicle.
• Water damage caused by a ruptured pipe.

What is Not Covered
Some common perils occur with such frequency and predictability in certain areas that they are subject to exclusion from basic coverage. The most notable excluded perils include:

• Floods or sewers that back up into the home.
• Land movement, including earthquakes, landslides and mudflows.
• Damage from pets, birds, rodents or insects.
• Pollution damage.
• Deliberate damage to the home.
• Normal wear and tear.

Most of these are fairly clear-cut perils, but many people get confused by the types of water damage perils, as defined by insurance companies. They make a clear distinction between sudden water damage caused by a ruptured pipe (covered) and gradual water damage caused by rising floodwaters that seep into a home (not covered).
Pulling It All Together
For far too many homeowners, insurance is just another piece of paper that is signed and filed away, rarely to be thought of again. That is, until the worst happens. People who wait until they experience a loss before analyzing their own policies are not getting the full value – maybe little value – out of their countless premium payments.
Homeowners insurance is a financial covenant, but it should also be treated as a living, breathing entity to be nurtured over time. Only by reading the policy carefully, knowing your coverage limits and updating the property inventory can you ensure that your hard-earned dollars will keep that roof over your head – and another, stronger one after that. Our agency welcomes the opportunity to help you achieve that goal.