You have bought a homeowners insurance policy and think that from now on, whatever happens, you won’t have any problem: in case anything happens, the insurance will cover all the losses. And suddenly something happens.

You find out that this situation is a so-called “exclusion,” and the insurance company will not cover anything.

It’s an unpleasant situation, but it can take place. Especially if you haven’t read your policy’s declaration page carefully.

So, let’s now try to learn more about these“exclusions” because knowing about them will make you informed and ready for everything. And perhaps you’ll think of finding a new insurance quote or you’ll decide buy an extra insurance policy to feel safe.

Here is the list of some accidents that are not usually covered by standard insurance policies:

• Wars, acts of terrorism and nuclear accidents. If your property is damaged because of wars, terrorism or nuclear accidents, the standard homeowners insurance will not cover your losses.
• Natural disasters. Most home insurance policies don’t cover damages done by flood, hurricanes, landslides and so on. Many companies don’t include fire damage in their policies if you live near a forest and the risk of fire is high enough.
• Accidents that occur because of neglect. If some accident happens because you weren’t attentive enough or haven’t fixed something in your house you should have fixed, your insurance company perhaps will not cover your losses. It usually covers damage caused by sudden accidents not connected with oversight on your part.
• Intentional damage. If the damage to your house is done by yourself or by some relative of yours who may have insurable interest in your property, the damage most likely will not be covered.
• Luxury and special items (weapons, jewelry, antique paintings and similar things) also aren’t covered by homeowners insurance, and perhaps you’ll need extra insurance to protect all your luxury items.

So, before signing your insurance contract, read your policy carefully to know about all the exceptions ahead. Get a hold of extra insurance if necessary and be ready for everything!

Photo © 111 Emergency

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