December 28, 2009
Common Homeowners Insurance Exclusions
admin asked:
When searching for the right homeowners insurance policy, you will find that there are several options for you. Hundreds of insurance companies are out there waiting to do business with you and each of these companies have tons of homeowners insurance packages that can fit your needs.
It is important to note though that getting a homeowners insurance plan does not automatically mean that you are covered in case anything bad happens to your home. All policies have certain items which you will not be qualified to file a claim for. These are called exclusions, and they vary from company to company.
The most common home insurance exclusions include environmental factors, accidental damage by household pets, home vacancy and external factors.
Environmental factors usually include floods, earthquakes, hurricanes and other natural calamities. Not only are these events not covered but if your home is situated in a place where these events frequently occur like along a fault line or in a low-lying flood-prone area, you will find it very hard to get a good deal on homeowners insurance policies.
Accidental damage done by household pets is also included in most companies’ homeowners insurance exclusions. Other kinds of accidental damage are typically covered but the insurance company will need to do some inspection to verify that the damage is in fact not done on purpose. However, damage due to the age of the house or the furniture is not covered.
Home vacancy means that you have left your home for a period of more than one month without a caretaker. In case an accident occurs during this period, you will not be qualified to make a claim since you have obviously neglected to take care of your property. Some homeowners insurance policies are more indulgent and will allow you up to two months of home vacancy.
Finally, external factors include events like war and pollution. In recent years, many homeowners insurance companies have also included terrorism in this category, because of the rise in terrorist attacks all over the world in recent years.
Although most insurance companies have the mentioned exclusions, these are not all of them. They could have a lot more in their list depending on the location, climate and kind of neighborhood that your house is in. They could even think of more exclusions as times change.
In any case, you should know exactly what your Homeowner Insurance Company policy covers and what it does not. When the hurricane does happen or when the thief does come, you will know whether you are qualified to file for claims or not, saving you a lot of time and effort in the future.
You can also find more info on Homeowner Insurance. Homeownerinsurancebliss.com is a comprehensive resource which provide information about home insurance.
When searching for the right homeowners insurance policy, you will find that there are several options for you. Hundreds of insurance companies are out there waiting to do business with you and each of these companies have tons of homeowners insurance packages that can fit your needs.
It is important to note though that getting a homeowners insurance plan does not automatically mean that you are covered in case anything bad happens to your home. All policies have certain items which you will not be qualified to file a claim for. These are called exclusions, and they vary from company to company.
The most common home insurance exclusions include environmental factors, accidental damage by household pets, home vacancy and external factors.
Environmental factors usually include floods, earthquakes, hurricanes and other natural calamities. Not only are these events not covered but if your home is situated in a place where these events frequently occur like along a fault line or in a low-lying flood-prone area, you will find it very hard to get a good deal on homeowners insurance policies.
Accidental damage done by household pets is also included in most companies’ homeowners insurance exclusions. Other kinds of accidental damage are typically covered but the insurance company will need to do some inspection to verify that the damage is in fact not done on purpose. However, damage due to the age of the house or the furniture is not covered.
Home vacancy means that you have left your home for a period of more than one month without a caretaker. In case an accident occurs during this period, you will not be qualified to make a claim since you have obviously neglected to take care of your property. Some homeowners insurance policies are more indulgent and will allow you up to two months of home vacancy.
Finally, external factors include events like war and pollution. In recent years, many homeowners insurance companies have also included terrorism in this category, because of the rise in terrorist attacks all over the world in recent years.
Although most insurance companies have the mentioned exclusions, these are not all of them. They could have a lot more in their list depending on the location, climate and kind of neighborhood that your house is in. They could even think of more exclusions as times change.
In any case, you should know exactly what your Homeowner Insurance Company policy covers and what it does not. When the hurricane does happen or when the thief does come, you will know whether you are qualified to file for claims or not, saving you a lot of time and effort in the future.
You can also find more info on Homeowner Insurance. Homeownerinsurancebliss.com is a comprehensive resource which provide information about home insurance.
Filed under Insurance by admin