If you own a home, chances are you have homeowners insurance. In an ideal world, you’ll never need to rely on a payout from your policy. If you have an accident, here are three claims that insurance doesn’t cover.
Large-Scale Flooding
First, most home insurance coverage doesn’t protect against flooding. For most of the US, flooding won’t be at a level to damage your property. If you live in a flood zone, you may be required by the bank to purchase flood insurance separately from your homeowners’ policy.
Risky Additions
Second, homeowners insurance doesn’t cover risky additions like trampolines or pets. While these may improve the quality of life for you and your family, they carry inherent injury and damage risks with them. These risks aren’t covered by your insurance, as they can never be truly anticipated.
Wear and Tear
Finally, your insurance won’t cover normal wear and tear to your home. Unfortunately, your home will incur some dings and scrapes throughout its lifetime. These small damages aren’t covered by your policy, as they are routine damages. Wear and tear damages include worn-out carpet, peeling paint, or damaged piping. These costs are all your responsibility to cover.
While homeowners insurance is a lifesaver when it comes to accidents, it doesn’t cover everything. If you’re ever curious about how far your policy goes, talk to your insurance provider for help.