Costs Your Usual Homeowners’ Insurance Doesn't Cover

Some homeowners have the misconception that once you purchase an insurance policy, you’ll be spared from all the expenses you need to have your house fixed. Make sure to scan through your policy to know what’s covered, so you can avoid being unprepared when something outside the policy occurs. Here are some of the things homeowners would still need to cover despite having a policy.

Simultaneous Accidents
If your house is damaged by two accidents at the same time, and one of them is not covered by the insurance, you won’t get covered at all due to the anti-concurrent causation clause in the policy.

Floods
Your usual homeowners’ insurance doesn’t cover damage by flood, regardless of the source. However, you can purchase flood insurance through the government-run National Flood Insurance Program.

Rebuilding Costs
There’s a limit to how much your insurer would pay you when you make a claim. If the damage dealt to your house is so bad that it can’t be fully covered by the insurance, you will need to pay for the extra cost.

Broken Pipes
Water damage is usually covered by your insurer, unless it’s caused by lack of maintenance or negligence of the owner.

Earthquakes
Earthquake is another natural disaster that’s not covered by a homeowners’ policy. However, there are insurance companies that provide a separate earthquake coverage.

Deductibles
While it is obvious this is something you would need to pay, the deductible you need to pay is more expensive as time goes.

House Upgrades
Homeowners’ insurance strictly only covers damage being dealt to the house, excluding maintenance and upgrades. Even upgrades that are essential or required by law won’t be covered.

Emotional Support
Your insurance policy covers physical damage to your house when accidents happen in your house. Insurers won’t help you with emotional necessities due to trauma from said accidents, but you can seek help from a psychologist or support group.

Lost Income
When something occurs to your house, it might occupy your time so much that you won’t be able to work. Not to mention that you’ll also have to deal with the insurance claim process, which can take a lot of time. Your insurer won’t replace the income lost when you have to deal with these things.

Knowing what's excluded from your policy will enable you to stay prepared or get extra coverage for such events. Feel free to contact us if you want further coverage from your typical homeowners’ insurance.

At River Valley Insurance Agency, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. To learn more about how we can help you, please contact our agency at (616) 301-9500 or Click Here to request a free quote.

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