Home insurance is a necessity if you want to be protected from unforeseen events such as theft or fire. However, much as all-encompassing insurance is desired, most home insurance policies cannot cover everything. These are some things that standard homeowners insurance in California usually does not include.
DAMAGE FROM NEGLECT
Problems arising from an apparent lack of maintenance of your home are generally not covered. Such examples include mold, pest infestations, damage by birds or rodents, rot, rust, and damage caused by smog or smoke from the environment. However, in cases such as mold growth due to a hidden leak or a burst pipe, it might be possible for the policy to cover the cost of repairs.
EARTHQUAKE AND WATER DAMAGE
In most states, natural phenomena such as earthquakes and sinkholes are not covered by the standard policy but can be added for an additional fee. However, California homeowners insurance coverage does not allow earthquake insurance as an add-on as these natural disasters are considered a normal part of life in the state. Instead, there are separate policies that can be purchased to append to your standard insurance. For seismic activities, you can get earthquake insurance from the California Earthquake Authority.
As for flood insurance, this is purchased through the FEMA-managed National Flood Insurance Program. This very complements your standard policy which usually doesn’t cover overflows or backflows from sump pumps, sewers, or drains.
If your dog attacks a guest on your property, your policy may cover a dog bite claim up to a certain limit. Then again, if your beloved canine companion is among the more aggressive breeds, such as the pit bull, chances are that the insurance policy won’t cover the said claim. Check with your insurance provider to see which breeds they have coverage on.
DAMAGE FROM MASSIVE DESTRUCTION
In the event of certain disasters that cause considerable damage to an entire area, it might not be possible to claim coverage. These disasters include floods, earthquakes, other natural disasters, government seizure or claims for eminent domain, nuclear accidents, and acts of war. In some cases, however, it is possible to add coverage for an additional cost. Terrorist attacks do not fall under acts of war, so they are typically covered by a standard policy. While nuclear accidents are not covered by insurance, the power plants responsible must compensate for damages as a result of the accident.
While homeowners insurance includes coverage for jewelry items, the standard policy puts a cap on it, usually at $1,500. So if you have more expensive jewelry or art pieces or antiques that are considered valuable, you might want to purchase additional insurance or increase the liability limit to cover the said items.
IT’S BETTER TO BE SAFE THAN SORRY
While insurance policies differ from state to state, they also differ from one provider to another. To ensure that you have ample coverage for potential events that could damage your property, it is best to check with your provider and review your policy’s limits and exclusions.
For more homeowner tips, consult with the best real estate pros in Orange County, CA – the Yoshikane-Toyama Real Estate Group. They are also the team that can help you in your home-buying or selling endeavors in the area. Check their listings here to give you an idea of available properties. Get in touch with them today at 714.501.7132, or send an email here.