Your home can be damaged in many ways. Whale homeowners or renters insurance is a great help should your home experience unexpected damage due to neglect or wear and tear. It can’t help prevent the damage only assists you in affording the repair bills. This is where insurance comes in handy, and understanding your policy and exclusions is important.
But how exactly can your home be damaged, and what will you be covered for? Aside from failing to care for it properly as you view it, external factors that cause damage to your home can include any of the following.
Weather
The weather is a significant cause of concern in many states nationwide. From areas prone to experiencing wildfires, flooding, tornados, or frequent extreme weather conditions, Mother Nature can rear her head from time to time, risk the safety and stability of your property, and, in many cases, cause massive amounts of damage. Suppose you want to protect your property from the weather. In that case, it is essential to note that not all insurances cover weather-related disasters or “acts of god,” meaning you won’t be covered or need to take out additional insurance. In the event of flooding from rainfall, you need to know if your insurance:
- Covers damage from this.
- Will pay out for help cleaning up.
- Covers any costs you might need to pay for, such as additional basement waterproofing to help limit future damage.
Vandalism
Again, like the weather, random acts of vandalism are for no reason, or you can be specifically targeted and can cause massive upset and distress. And they are not predictable. In times of civil unrest or uprising and even unwarranted violence for no reason, if your home comes under attack, it can sustain much damage, leaving you to pay for the clean-up and repairs to rectify the damage caused.
Most insurance premiums will cover vandalism. However, you need to be confident you have the right policy in place. Dwelling coverage, for example, covers damage to the building itself, such as the walls and roof, while personal property insurance can cover damage to furnishings and belongings inside, like your furniture and electronics. Check for exclusions on your policy so you know that you will be covered should you fall victim to this type of damage.
Accidental Damage
Accidental damage can cover many different types of damage, such as a broken window or a spilled drink on your carpet. Personal property insurance or renter insurance can cover you for different types of accidental damage in the home, whether accidental or caused by your family or a third party. Personal property insurance can also offer you additional coverage for any belongings that can be taken from the home, like if your laptop is stolen during a break-in.
Your building coverage again can include accidental damage. In some cases, for many insurers, this can be an add-on policy you need to opt into, which increases your payments. If you were to experience an accident that damages both the building and your belongings, it can be costly to rectify, and the repercussions can be huge.
