Having a policy in place does not necessarily mean that a family's home and belongings are protected. A homeowner's insurance policy covers basic protection from the most common perils. But because policies are built with the average American household in mind, some policies may not account for the individual specifications of a household. There are risks associated with certain locations such as high flooding or hurricane-prone areas. Some policies do not cover all of the family possessions. Below are five things that a typical homeowner's insurance policy does not cover:
Floods
Flood insurance is mandatory when obtaining a mortgage on a home located in a high-risk flood area. Even if the home is outside a high-risk area, never make the mistake of assuming that there will never be a flood. In fact, almost 20% of flood insurance claims come from moderate to low risk areas. Whether it is a flash flood or a rainstorm, water can cause big damage to the home and its belongings. If unprepared, the effects can be devastating.
Earthquakes
The basic homeowner's insurance policy does not offer earthquake coverage. Luckily, in many states, there are insurance companies allowing earthquake coverage to be added to policies. The aftermath of an earthquake can cause severe devastation. The extensive cracking and shaking can demolish entire buildings and destroy homes and everything in it. When living in an area prone to earthquakes, consider including this coverage to the policy.
Home Businesses
Most homeowner's policies only give a limited amount of coverage for business equipment. Also, policies do not include any personal injury liability that is related to the home business, such as a broken ankle suffered by a client or vendor while visiting the business. People who run a business from their home or have expensive office equipment, are often instructed to get additional coverage. Public adjusters in the Delaware Valley region can help homeowners with a home business review their policies.
Valuable Personal Property
Homeowner's policies can offer sufficient coverage for most personal property. However, there can be limits to the amount a policy will cover if valuable items like silverware, furs, firearms, watches, or jewelry are damaged or stolen. Lost items are usually not covered. For people who own expensive collections, getting additional coverage is recommended. When looking for a reputable insurance adjuster Northeast Philadelphia that offers a policy review, start your search with friends and neighbors.
Are You Covered?
As a homeowner's assets grow, consider shielding them with additional liability insurance. A consultation with home adjusters in PA prior to submitting a home damage claim is the recommended course of action. An independent private claims adjuster in Philadelphia is your best advocate when negotiating a loss with your insurance provider. Don't hesitate to call a homeowner's claim adjuster Morrisville first when flood damages inflict your home since many carriers avoid responsibility when they hear the word "flood". An independent adjuster is better qualified to handle those conversations.
Floods
Flood insurance is mandatory when obtaining a mortgage on a home located in a high-risk flood area. Even if the home is outside a high-risk area, never make the mistake of assuming that there will never be a flood. In fact, almost 20% of flood insurance claims come from moderate to low risk areas. Whether it is a flash flood or a rainstorm, water can cause big damage to the home and its belongings. If unprepared, the effects can be devastating.
Earthquakes
The basic homeowner's insurance policy does not offer earthquake coverage. Luckily, in many states, there are insurance companies allowing earthquake coverage to be added to policies. The aftermath of an earthquake can cause severe devastation. The extensive cracking and shaking can demolish entire buildings and destroy homes and everything in it. When living in an area prone to earthquakes, consider including this coverage to the policy.
Home Businesses
Most homeowner's policies only give a limited amount of coverage for business equipment. Also, policies do not include any personal injury liability that is related to the home business, such as a broken ankle suffered by a client or vendor while visiting the business. People who run a business from their home or have expensive office equipment, are often instructed to get additional coverage. Public adjusters in the Delaware Valley region can help homeowners with a home business review their policies.
Valuable Personal Property
Homeowner's policies can offer sufficient coverage for most personal property. However, there can be limits to the amount a policy will cover if valuable items like silverware, furs, firearms, watches, or jewelry are damaged or stolen. Lost items are usually not covered. For people who own expensive collections, getting additional coverage is recommended. When looking for a reputable insurance adjuster Northeast Philadelphia that offers a policy review, start your search with friends and neighbors.
Are You Covered?
As a homeowner's assets grow, consider shielding them with additional liability insurance. A consultation with home adjusters in PA prior to submitting a home damage claim is the recommended course of action. An independent private claims adjuster in Philadelphia is your best advocate when negotiating a loss with your insurance provider. Don't hesitate to call a homeowner's claim adjuster Morrisville first when flood damages inflict your home since many carriers avoid responsibility when they hear the word "flood". An independent adjuster is better qualified to handle those conversations.
