Whether your home floods, is robbed or experiences normal wear and tear, you expect your homeowner's insurance to help cover the costs of repair, but your insurance does have limitations regarding what it covers. Take a look at these four things your homeowner's insurance won't cover so that you will be fully prepared for when disaster strikes.
Termites can do severe damage to your foundation if colonies, which can range from 100 pests to up to several million, invade your home. Paper, wood and decomposed plant material that are in close contact with soil or dirt near your home will provide termites with a source of food and entry to your home. Moisture accumulated around the foundation and in crawlspaces that have poor ventilation can provide a water source for the termites to survive on. Termites can destroy support beams and other wood in your home. If termites enter your home and cause damage, don't expect your homeowner's insurance to cover the cost of repairs.
Mold is not only a sight for sore eyes, but it is also a health concern if it grows in your home. Mold can bring out symptoms similar to allergies and can even cause breathing difficulty. Despite the common presence of mold, the traditional homeowner's insurance policy limits coverage for mold damage or completely excludes it. The best solution for mold is to stop it before it begins growing. If your home floods or you have leaking pipes, eliminate the moisture before mold has the opportunity to grow.
As sewer lines rapidly age, more homes are being hit with sewage backups due to out-of-date sewage lines. Other causes of backups are pipelines that handle stormwater, raw sewage and blockages from tree roots that find a path into sewer-line cracks. If a sewer backs up into your home, it can damage and ruin flooring, furniture, walls and your electrical system. Your homeowner's insurance will not cover the cost of repairs. If you are looking for protection from sewer backup, consider extra insurance that can be used as endorsements to your current policy.
A sinkhole is a sudden gap in the earth's surface that happens after groundwater dissolves rock such as limestone over a period of time, carrying bits of the rock away, resulting in large pores and cracks in the bedrock. After large cavities form underground, the land and soil above may quickly settle and/or collapse, creating a large sinkhole. Depending on the area in which you live in, sinkholes may not affect you, but if you do live in an area that is susceptible to this natural disaster, you should be aware that your homeowner's insurance might not cover the damages.
If you're unsure of what your homeowner's insurance covers, go over your policy again. It is well worth it to double check.