Is Your Insurance Coverage Adequate?

With the cost of insurance rising just like everything else, it’s all the more important to ensure that your insurance coverage is sufficient for your needs.

Regardless if you are purchasing a house or have lived in your house for 20 years, you can ensure anytime that you have the right insurance coverage by reviewing your policy.

Note, if you need help or resources to shop, lower your insurance rates, or help explain your insurance coverage, feel free to reach out!

After Hurricane Harvey hit the Houston area, it is estimated that 80% (that’s right 80%) did not have the proper home insurance coverage.* This is because home insurance typically covers wind damage but not flood damage caused by “acts of God” like a hurricane.

With that in mind, here are 5 major items that Home Insurance Might Not Cover:

  1. “Acts of God” - Flood damage from a storm is not covered. That’s why flood insurance can be your lifeline.

  2. Pest Damage - Think Termites, Squirrels, and other rodents damaging your home are not covered by home insurance.

  3. Sewage Backup - Sewage backups traditionally occur due to blockage or even a tree root damaging the sewer line. Sewage backup coverage is typically an add-on of your home insurance policy.

  4. Expensive Items or Business Property - Loss of items like Jewelry or a computer can typically be covered with additional coverage. Also, if you run a business out of your home, you will need additional coverage to insure your business property.

  5. Higher-Risk Items - Trampolines and potentially even liability or damage from a pool might be covered. In fact, insurance companies will generally have a safety guideline when it comes to pools to provide insurability.

Last tip - it’s always good to double check your dwelling coverage and your deductibles (often see both a general deductible, plus a wind and hail deductible) as well. Your dwelling coverage should sufficiently cover the cost of your home structure and not the land.


*Click here to read the article from USA Today

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