Perils Commonly Covered by Home Insurance?

Perils Commonly Covered by Home Insurance

When you buy home insurance, you will have to examine the plan closely to see what perils it covers. These perils are the hazards that might damage your home, and that your plan will pay for as a result. While most plans cover numerous common perils, they still can vary considerably in their offerings.  

Let’s take a closer look at the perils commonly covered by your homeowners insurance. 

House fires are among the leading causes of household damage and home insurance claims in the nation. They might arise from appliances, bad electrical wirings, exposed flames in the home and countless other losses. However, your plan will not cover you if you intentionally set fire to your home. 

Home insurance will generally cover damage caused by weather. However, certain types of weather might be excluded or fall under special coverage terms. For example, nearly all homeowners policies will not cover flooding when it is caused by weather. You will have to buy flood insurance in order to get this coverage. 

Always ask your agent about the specific weather events that your plan covers. They can tell you if you need to augment your plan with other coverage. 

               3. Burst Pipes 

Your home insurance will not cover flooding from outside the home. However, if a pipe bursts and floods the home, then your plan will pay for structural damage and possessions damage. Still, other types of floods like sewer backups or sump pump overflows might not have coverage unless you buy a policy endorsement.

               4. Vandalism and Theft 

Home vandalism or a break-in might cause damage to the home’s structure as well as losses of belongings. That’s why your homeowners insurance will likely cover you against these losses. However, policies might exclude certain acts of violence, such as war. Riot damage, however, will have coverage. While these events have low risks of occurring, they are still worth considering. 

               5. Falling Objects 

Home insurance will usually cover objects falling on your home, such as a tree that falls during a storm. However, if the tree falls from a neighbor’s property onto your home, then it is usually the neighbor who pays. If you have failed to remove a dead tree which fell on your home, then your insurer might also refuse to pay because you should have had plenty of time to prevent the damage. 

All plans will contain terms and limits on what perils they might or might not cover. In some cases, you might have to expand your plan to insure you against additional hazards. The primary thing to remember, however, is that home insurance will only cover unpreventable, unavoidable accidents and damage. Therefore, any losses like normal wear & tear will likely not have coverage.