Does your homeowners insurance have your back?
While you like to think that you can rely on your home insurance no matter what comes your way, this isn't always the case. Sometimes your policy's coverage limits leave you exposed to risks. To understand the restrictions on your homeowners insurance coverage, here's what your policy will and will not cover when it comes to these common perils.
If your home is in the path of a hurricane or tropical storm, then your home may sustain damage from high winds, heavy rain, and extreme flooding. Fortunately, your home insurance policy will offer coverage for the damages related to wind, rain, and hail. However, if your home is damaged by floodwater, then your policy will not offer coverage for repairs. The only way to secure flood coverage is with a specialty flood insurance policy.
If your gas pipes explode, then this can result in a major fire in your home. Fortunately, all home insurance policies include fire as a covered peril. This means that your policy will offer coverage to repair fire damages, including damages to your personal belongings. Your home insurance will also offer loss of use coverage to help you pay for the costs of temporarily living elsewhere while your home is undergoing repairs.
Insurance companies categorize land and mudslides as earth movement. As earth movement damages are excluded from standard home insurance policies, you will not have coverage for these types of natural disasters. Specialty policies are available for those who live in areas prone to land or mudslides.
This is what your homeowners insurance policy will cover when it comes to these common natural disasters. Do you have more questions about your homeowners insurance coverage? If so, then contact
the experts at Club Agency Insurance Brokerage
in Garden City, New York today.