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Did you know your standard insurance might not cover all the curveballs Mother Nature can throw at your home? Those heavy rains could mean flooding or the ground might rumble with an unexpected quake. That’s where additional insurance steps in – protecting your home from these specific, unpredictable disasters.
From floods to earthquakes, hurricanes to sinkholes, there’s a whole range of insurances tailored to keep your house safe. Let’s explore these lesser-known (but oh-so-important) types of home insurance.
A standard homeowners insurance policy typically covers several key areas:
It’s important to note that policies can vary significantly depending on the insurer and the specific terms outlined in the policy. Always review your policy to understand what is and isn't covered, and contact your insurer if you have any questions.
Depending on your home’s location and the specific risks associated with that area, certain events like floods, earthquakes, or hurricanes might not be included in a standard policy.
As a rule of thumb, damage and destruction due to earth movement (such as landslides, mudslides, earthquakes, and sinkholes) or floods (due to storms, typhoons, tsunamis, or hurricanes) are not usually covered by standard homeowners’ insurance.
Some additional types of coverage include:
Determining if you need additional coverage often hinges on your property’s location, susceptibility to certain risks, and specific concerns.
Homeowners insurance isn’t a luxury; it’s a necessity. Virtually all mortgage companies require borrowers to have insurance coverage for a property's full or fair value and won’t make a loan or finance a real estate transaction without proof of it.
Talking to a knowledgeable insurance agent or company can help you navigate policy details, coverage gaps, and additional coverage suggestions based on your location and circumstances.
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