Insurance
What Home Insurance Usually Does Not Cover
Many people assume home insurance covers everything. A standard policy has limits and exclusions that are worth knowing before you need to claim.
Events often excluded
- Flood damage, which usually needs a separate flood policy
- Earthquake damage, often a separate policy or add-on
- Normal wear and tear, and poor maintenance
- Some kinds of water damage, depending on the cause
Limits on valuables
Jewellery, art and collectibles often have low limits in a standard policy. Ask about adding extra cover for items of high value.
Dwelling cover and rebuild cost
Ask whether your policy pays to rebuild your home at today’s building costs, and not only its market value.
Questions to ask
- What is my deductible, and is there a separate one for storms?
- What is not covered at all?
- What happens if I cannot live at home after a covered loss?
General information only, not financial, legal or insurance advice. Rules, prices and benefits vary by state and by policy. A licensed professional can explain what applies to you.