5 Surprising Things That Aren't Covered By Basic Home Insurance

Posted on: 27 April 2018

Your home is probably your most valuable possession. You perhaps had to sacrifice much to buy it. You want to do everything to ensure it is protected.

The first step to get this protection is to get a home insurance policy. Basic home insurance will cover the main dwelling and structures, including the garage, shed, fence, and driveway. It will also cover your personal property and third parties who are injured on your property. A basic home insurance policy is a good place to start but is it enough? Take a look at some of the things that aren't covered by this policy.

1. Jewelry

Home insurance policies typically cover personal property. However, when it comes to high-value items such as jewelry and artwork, this cover is limited. If you own expensive jewelry or artwork, it may be a good idea to get extra cover.

2. Cash

If you stash huge amounts of cash at home and it gets stolen, you are virtually on your own. Most home insurance policies will only offer a few hundred dollars as compensation for cash stolen from your home.

3. Natural Disasters

Under natural disasters, most home insurance policies will limit their cover to incidences such as hailstorms and lightning. You'll be surprised to learn that basic home insurance policies do not cover flooding or earthquakes.

Consider getting extra coverage against flooding; even if you don't live in a flood zone. A good percentage of flood claims come from people living outside flood zones.

An earthquake is the most devastating of all natural disasters. You could lose your home overnight in case of one.

4. War and Terror

War may seem like a remote possibility, while the threat of terror lurks somewhere at the back of your mind. However, it is important to know that your basic home policy will not protect you against invasion by a foreign army or a terror attack.

5. Vandalism

Though your home insurance may protect you from vandalism, please note that this is limited. If your home is vandalized while occupied, then it is covered. If however, you are planning to sell your home and leave it vacant for at least 30 days, then vandalism cover will not apply.

Basic home insurance is just that, basic. If you want more secure protection, then you'll need to get additional cover against floods, earthquakes, and personal property.

Also, do not leave your home vacant for long periods of time. Bottom line; don't make assumptions about your home insurance. Read the fine print and ask questions. If you need to make a claim and want to ensure it's accurate, use public adjusters to help you determine what you can get covered and what you can't.

For more information, contact a company like Concordia Claims Managers.