3 Things Not Covered By Standard Home Insurance Policies (And What To Do If They Occur)

Insurance Blog

When purchasing a home insurance policy, it's vital that you understand what's covered on a standard policy and what's not. It's easy enough to learn this, but many fail to take the time to do so, which can lead to frustration and increased costs down the line. Read on to learn about three common things not covered by standard policies and how to deal with them in the event that they do occur.

Mold

In most cases, a buildup of mold is caused by a maintenance issue that hasn't been addressed. While your insurance may cover the cost of repairs after a burst pipe, it won't cover such repairs (including mold prevention and removal) after a flood, or if the needed repairs are a result of leaky pipes and drainage issues—things that should have been maintained and fixed by you.

To avoid mold-related problems, you need to focus on maintenance. It's important that any leaky pipes be fixed immediately, as well as other water-related issues, such as improper drainage. Humidity is also a big contributor to mold, so be sure to properly vent the bathroom and other high-humidity areas in your home.

Sinkholes

As sinkholes are considered a movement of earth, similar to earthquakes, their coverage is not mandatory unless you live in Florida. While you may be able to find an insurance policy that offers sinkhole coverage for an additional price, your options will be extremely limited.

While natural sinkholes cannot be avoided, you can work on redirecting water drainage away from known erosion spots, as well as keeping a tab on any pipes that run under your property to be sure they haven't burst or otherwise been compromised. For many homeowners, a standalone sinkhole coverage policy may be an option that's worth looking into.

Rodent Damages

Rodents are pesky little critters who can find their way into your home through the smallest of cracks and wreak havoc like you wouldn't believe. Rodent damage is usually not covered by home insurance.

Damage caused by rodents is considered gradual, so home insurance companies see this as a maintenance problem. While rodents can be difficult to get rid of, it's your job as the homeowner to be sure your home is free of them. If you're dealing with an infestation, the initial costs of a pest control appointment may seem daunting, but the costs associated with damage repairs will likely be much more the longer you wait.

Whether you're just purchasing a new home or switching insurance policies, it's always important to read the fine print. Talk with an insurance agent who can explain to you, in detail, what your policy covers and what it doesn't. This can save you lots of time and money in the long run. 

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13 March 2015