Home Insurance Exemptions
When you invest in a homeowners insurance policy, it can be easy to assume that you are covered for any peril that occurs. However, there are some exceptions to your coverage that can leave you unprotected during a disaster. Keep these common exemptions in mind so that you know what additional coverage options you need to invest in.
- Earth movements – every part of the country is at risk of experiencing an earthquake or other type of earth movement, including sinkholes, shockwaves, and mudslides. Make sure you know the risk level in your area for earth movements so that you can best protect your house. Investing in an earthquake insurance policy can help to provide the additional protection that you need.
- Floods – home insurance policies will not provide any protection for damage that is done by the rising waters of a flood. Depending on where your home is located, you may be required to invest in flood insurance. However, even if you are not required to buy coverage, you can still benefit from a policy.
- Home business – if you run a business out of your home, you most likely do not have enough coverage for all of your equipment, inventory, and supplies. Make sure to look over your liability limits, as well as consider a business owner’s policy to provide the right amount of protection.
- Valuables – your homeowners insurance policy will protect all of your personal possessions. However, if you have any valuable items, such as furs or fine art, you most likely do not have enough coverage. scheduling the items within your policy can provide the right amount of coverage for all of your assets.