Homeowners insurance is an essential investment, as it provides protection for your property and belongings in the event of unexpected damages or losses. When searching for a policy, it’s vital to ask does homeowners insurance cover water and fire damage?
You’ll find there are certain instances where homeowners insurance may not cover certain types of damages or losses, and it is important to understand your policy and its limitations.
We will discuss whether or not homeowners insurance covers water and fire damage. We’ll also examine instances where homeowners’ insurance will not cover certain damages, and what to look for in a homeowner’s insurance policy.
Does Homeowners Insurance Cover Water and Fire Damage?
In most cases, homeowners insurance typically covers water and fire damage–however, there are a few exceptions (which we go into below).
In general, if you accidentally cause water or fire damage to your property, your homeowners insurance policy may provide coverage for repairs and replacement of damaged items.
Coverage may vary depending on the specific terms of your policy and the cause of the damage, so it’s important to review your policy and examine every detail.
4 Instances Where Homeowners Insurance Will NOT Cover Certain Damages
There are certain instances where homeowners insurance may not cover certain types of damages, including:
1. Neglect or lack of maintenance
If the damage is a result of neglect or lack of maintenance, homeowners insurance may not provide coverage. For example, if a leaking roof is not repaired and eventually causes water damage, homeowners insurance may not cover the costs of repair.
So, does homeowners insurance cover water and fire damage? Yes, it does, although you have some responsibility in keeping routine maintenance up-to-date.
2. Flooding
Standard homeowners insurance policies typically do not cover flooding, which is why it is important to purchase separate flood insurance if you live in an area prone to flooding.
3. Earthquakes
Homeowners insurance policies typically do not cover damages caused by earthquakes, and separate earthquake insurance may need to be purchased.
4. Acts of war or terrorism
Homeowners insurance policies typically do not cover damages caused by acts of war or terrorism.
4 Things to Look for in a Homeowners Insurance Policy
Obviously, one of the things you should always ask yourself when it comes to a policy is: does homeowners insurance cover water and fire damage?
When shopping for a homeowners insurance policy, there are several things to look for to ensure you have adequate coverage:
1. Coverage limits
Make sure you have enough coverage to replace your home and belongings in the event of a total loss.
2. Deductible
Consider the amount of the deductible and how it will affect your out-of-pocket expenses in the event of a claim.
3. Additional coverage options
Consider additional coverage options such as flood insurance, earthquake insurance, and personal liability insurance.
4. Exclusions
Review the policy’s exclusions to understand what damages or losses may not be covered.
Homeowners insurance can provide protection for your property and belongings in the event of unexpected damages or losses. However, it is important to understand the limitations of your policy and what is and is not covered.
By reviewing your policy and considering additional coverage options, you can ensure that you have adequate protection for your home and belongings.
If You Have Fire or Water Damage, First Call is the Right Call
Don’t let unexpected disasters and damages leave you feeling overwhelmed. With our prompt response and comprehensive restoration solutions, we’ll help you get your home ready for you to return as soon as is safely possible.
Take the first step towards a fresh start. Contact First Call today to schedule a consultation. Our experienced professionals throughout Raleigh, Greensboro and Burlington will assess the damage, create a tailored restoration plan, and provide you with a transparent and competitive quote.
