As a homeowner legal jargon can be cumbersome, we are going to break down what are exclusions and how the affect your present home insurance policy:
Exclusions in a homeowner’s policy are damages that have been excluded for a risk, that may or may not occur. These are ways for insurance companies to carve coverage for certain damages that they do not want to compensate for; forcing a homeowner to purchase additional coverage.
The typical coverage is very broad. Just remember that as professional Miami, FL Public adjusters, we know that insurance companies want to provide you with the least amount of protection as possible so that when something does occur, they do not have to give you an extensive amount of money unless you purchase more coverage’s. Our team wants you to know of which exclusions are within your policy and help you determine whether you need more coverage for your home, family, and yourself.
Exclusions Usually Seen
As a policyholder, there will be many details, factors, and elements included in your policy, but along with inclusions, there are also many exclusions. These are the usual exclusions that should be noted:
Wear and tear
Wear and tear are typically excluded from your policy. For example, the lifespan given to your roof was ten years and your roof collapses from a hurricane at 11-year mark- If you have hurricane insurance, the damage done inside your home from the collapsed roof will be covered, but because your roof passed its lifespan, that may not be covered
Law or ordinance requiring you to repair or change something in your home
If the city tells you that you need to do something to your home, your policy will most likely not pay for it. This would have to be purchased as an add-on.
Floods caused by nature
Usually water damage from a leaky pipe will be covered, but if the damage is done to your home because a hurricane brought an abundance of rainfall and caused a flood in your home, that will not be covered.
Sinkholes, earthquakes, landslides
Once again, this is not covered. If you live in an area where you experience any of these, it would be wise to purchase the additional protection for your home.
Deaths or injuries in a pool
If someone is injured or drowns in your pool, your insurance does not cover it. It will only cover the damages done to your pool.
Valuables worth more than $1000
If you have anything worth more than $1,000 be sure to look into the add-on protection for expensive personal belongings.
Come Learn More with Us
There are so many more exclusions present in your policy, and because it is so much, most homeowners do not fully read it. At our Miami public adjusting firm, our studied public adjusters know every specification related to all the exclusions within your homeowner’s policy. We could assist you in seeing what you absolutely need, and what you may not need to purchase.