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The Damages Your Homeowner’s Insurance May Not Cover

The Damages Your Homeowner’s Insurance May Not Cover

James Quinn
  • Confident your homeowner's policy will cover your home after damages? You'd better double-check with your agent that these common situations don't set you back big-time!
homeowners insurance damage risks homerefinery

Many homeowners tend to focus on the cost-efficiency of buying a desirable home insurance policy rather than the actual details. This may help out in the short-term but end up costing you more in the long-term.

Buying home insurance involves a lot of other aspects that are equally important. Off the top, you should have good knowledge about the common home damages that can affect your safe haven because often, home insurance policies do not cover many of them.

Introduction

Wind damage is the most common issue that influences a homeowner’s insurance claims, followed by fire, theft, water-related damage, hailstorm, and other weather-related issues, etc.

Keeping a track of what is not covered by homeowners insurance is important because it goes without saying that a person only invests in a house once in his lifetime, and the matters related to insurance could be really tricky if not dealt with carefully.

Possible Non-Covered Damages

Because damages at home can’t be reversed. Neither the policies in your insurance cover could be magically molded per your convenience. But let’s focus on the former first and have a look at these 5 common home damages that one should look out for:

Wind and Hail

The most common home-damage-causing issue that is not taken under consideration, for the most part, is wind. It can damage different parts of our home in unimaginable ways. For example, a heavy blow of wind can easily detach a branch of the tree next to your home and damage your house.

Gushes of wind often lift up roof shingles, break windowpanes, detach doors, damage patio furniture, affect attached yard, etc. The destruction caused by hurricanes, tornados, hailstorms, thunderstorms has caused homeowners to pay lump-sum amounts in the past.

Fire and Lightning

Another very common mishappening that can cause heavy damage to your property is fire. Catching fire is a very common disaster that can happen due to minute carelessness. Fire and lightning also often tend to be the costliest insurance claims.

Fire and lightning not only destroy properties but also often turn out to be fatal. Securing your house with protections such as fire extinguishers and smoke alarms is a must in today’s world.

Water Damage

Appliance leaking and bursting of pipes can cause serious damage to your home. So much so, that it can even cause a wall to break. Further, no one likes to live under a roof that leaks all the time. Even though almost every other homeowner’s insurance claims cover water damages, you should carefully read the policy before settling down with it.

Theft

Another very common yet unexpected damage that can wreck your home is theft. A very important aspect you should look into before buying a property is the kind of neighborhood you are choosing to settle down into.

If the neighborhood is shady or located somewhat away from the busy streets of your town, it is safe to say that your home is exposed to the possibility of theft. However, protective gear such as CCTV cameras and proactive home security systems that can secure your house in your absence are available in the market.

Miscellaneous Liabilities

Just like the human organ systems, our houses grow old too. There are arrays of miscellaneous liabilities that can damage your home before you even realize the issues. For example, the septic tank installed under your house can leak due to extra load and cause a terrible smell, affecting you and your neighbors. Pipes often break due to wear and tear. Harsh sunlight and other weather-related issues have an effect on the color of your house and the list will go on.

Minimizing Your Risk

The damages discussed thus far are often excluded by homeowner’s insurance policies. Even when covered, filing a claim is likely to raise premiums, may not cover the entirety of resolution costs, and may lead to general disarray.

With that in mind, here several risk-mitigating ways that homeowners can avoid costly damage in the first place:

  • Installing smoke detectors and fire extinguishers.
  • Installing CCTV cameras and home security systems.
  • Installing Carbon Monoxide (CO) detectors.
  • Installing sprinkler systems.
  • Installing wireless connection systems.
  • Installing grills and iron gates in front of the main entrance.
  • Earthing the house – Put an extra effort into this!
  • Regularly checking plumbing systems and electrical circuit boards.
  • Using plywood protection over glass windows.
  • Keeping lawn furniture indoor during storms/rain.
  • Installing vertical braces for your garage.
  • Replacing loose shingles and door bolts.
  • Install proper leakage protection gears.
  • Use smart lights to avoid short-circuit via switches and fuses.
  • Use strong wooden fences.

Final Thoughts

Homeowner’s insurance is a necessity of modern living. If you’ve taken out a mortgage through a lender there’s seldom any choice in the matter—it is a requirement of any sane lender to ensure their investment! There is a lot of wiggle room in most common homeowner’s policies regardless of how essential they are or how common the possible damage may be. It always pays to realize possible high-risk damages for your home’s particular geographic location. Don’t hesitate to call up your insurance agent and ask, specifically, about each damage on this list and your possible liability.