7 Homeowner Insurance Cover Exemptions in 2020

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In a recent report published by the NBC News, a shocking revelation was made about how an unlucky homeowner happened to incur as much as $15,000 in loss, just because a tiny little squirrel decides to go nuts.

According to the report, the pest, which fell from a chimney and into an Atlanta home, decided not only to take up residence in the house but also to wreak some serious damages. In what was a full-blown attack on the house by the creature, the pesky monster scratched up the floors of the home, chewed the baseboards, window and door frames, while also damaging the couch. The result of this forest 2.0 rampage was worth at least $15,000 in estimated damages.

As expected, the affected homeowner decided to submit an insurance claim to his insurance provider. But to his utmost surprise, his claim was rejected, on the basis that the homeowner policy he bought didn’t cover pest damage.

Perhaps if the homeowner had known about the little things his insurance policy didn’t cover, maybe he would have done more to protect his property from such damage. In any case, the deed has been done, and now, he has to face the music all by himself.
However, in order for you not to fall into a similar predicament, we’ve decided to create this post to address the issue of homeowner insurance policies and those little events they don’t cover.

1. A natural disaster involving ground movement

Source: World Vision

Strange as it may sound, home insurance providers don’t give a damn about what happens to your property in the event of a natural disaster. Sounds like a pretty dubious way to avoid paying you any entitlements when you fall victim to ground movement disasters, right? Well, that’s just the way it is with insurance policies. Natural disasters such as earthquakes, landslides, and sinkholes aren’t covered under home insurance policies.

To be on the safer side, though, you should try getting separate policies for these disasters, especially when your home has been secured via a mortgage.
Without a natural disaster policy covering your home, you may find it difficult handling the consequences of these disasters all by yourself, especially when you’re still paying back your home loan. So to avoid getting yourself into a position where you’ll be searching for ways to stop bailiffs from chasing after you or seeking external funding to repair the damages done to your property, you should endeavor to get yourself a natural disaster policy today.

2. Floods

Source: CBC.ca

Don’t even think for a second that your home insurance provider will come to your aid if your home becomes flooded. Floods – like those from overflowing rivers or torrential rain – are not covered by home insurance. So, before you lose your home to the next unfortunate flooding event that may occur in your neighborhood, be sure to get yourself a flood insurance policy. However, flooding due to burst pipes or roof leakage is often covered by most homeowner insurance policies.

3. Mold

Source: Medical News Today

Every mortgage homeowner, including those who are able to use the services from companies like IVA to simplify their mortgage payments, will agree with me that the last thing you want while still repaying your home loans is to incur any unforeseen expenses. Unfortunately, unforeseen circumstances are part of our everyday lives. More often than not, unforeseen expenses might arise as a result of mold damage. And as you may have rightly guessed, home insurers won’t pay you to fix these damages, especially if it’s caused by water associated with long-term leaks, poor home maintenance, construction defects, or naturally occurring floods.

4. Wear and tear

Source: EBM RentCover

I know this may be hard for most homeowners to accept, but your homeowner insurance policy isn’t a one-size-fit-all after all. Typically, home insurance is meant for sudden or accidental problems such as storms, fires, and burglaries – and not for every damage that happens to your property as a result of wear and tear. It is expected of every homeowner to regularly maintain their homes to keep them from slipping into disrepair. Common maintenance procedures such as roof maintenance, siding repair, basement waterproofing, and what have you are things you should handle yourself over time and not expect your home insurance provider to always come through for you anytime anything goes south in your house.

5. Infestations

Source: Realtor.com

For the same reason, wear and tear aren’t included in a home insurance policy, damages inflicted on homes via the infestation of pests such as squirrels, rodents, termites, fleas, bed bugs, roaches, etc., are also exempted from home insurance policies. As far as home insurance providers are concerned, ridding your home of these pesky monsters should be top on your maintenance priority list.

6. Dogs and other aggressive pets

Source: The Spruce Pets

Strangely, our canine buddies occupy an interesting, yet confusing, position within home insurance. In fact, according to a recent study, it was discovered that dog bites accounted for more than one-third of liability claims. The truth, however, remains that certain aggressive dogs may not be covered and could even prevent you from getting approved for a policy. In fact, some providers blacklist some breeds that are renowned for their aggressive nature and injury inflicting abilities, such as pit bulls, Rottweilers, and wolf hybrids.

7. Government actions and policies

Source: Detroit Journalism Cooperative

It is not your insurer’s headache whether your belongings, items, properties, or at the very worst, your home becomes confiscated by the government. If the government deems it necessary to condemn your home and confiscate your land, your insurance provider won’t come to your aid.

Bottom Line

Before and after proceeding with your home insurance purchase, always ensure to read the policy thoroughly, to know what is included and what is exempted. Remember, getting the right types of policies will save you a whole lot of stress and money in the future.

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