As a homeowner, your homeowners’ insurance policy is one of the most critical protections one can invest in. It is crucial to understand the coverages provided under the policy. However, it just as important to understand the types of events excluded under the policy.
Floods
It is critical that homeowners in the Tri-State area know that flood insurance is not automatically covered under a home insurance policy. So many homeowners assume that flood coverage is included because their policy has water damage coverage. Water damage coverage is meant for events such as a burst pipe or an overflowing dishwasher. Flood coverage needs to be purchased as a separate policy from the government.
Damage as a result of homeowners’ failure to maintain the home.
As a homeowner, it is critical that you perform regular maintenance on your home. Failure to properly maintain the house could result in the denial of coverage in the event of a claim. If it is determined that the damage to your home is the result of your failure to maintain the home, such as not having your water heater regularly serviced, you could be denied coverage.
Dog bites
Many homeowner insurance policies exclude coverage for aggressive breeds such as Pitbulls. However, some carriers exclude coverage for dog bites altogether. It is essential to check with your insurance agent at Rock Insurance Agency, Inc. in Medford, NJ to confirm your level of coverage. If you have a dog, you may want to consider an umbrella policy for extra protection.
Jewelry
If you own an expensive jewelry collection, it is important to know it may not be fully insured under your policy. While there may be a small limit under your policy, it will most likely not be enough coverage in the event your collection is stolen. If you have expensive jewelry, you will want to speak to your agent about adding additional coverage.
If you live in the Tri-state area and would like to learn more about homeowners’ insurance, reach out to a specialist at the Rock Insurance Agency, Inc. in Medford, NJ today.