Homeowners Insurance - So what does the small print say anyway?

Picture this: warm summer nights, backyard bashes, friends, family, food and drinks.

Cue the entertainment!  We know you gave up a life of traveling and touring with your high school band for your day job, but you love to perform at these events.  You probably have a full band set ready to rock all night.  But before you hit the stage - do you know any accidents and performance equipment may not be covered under your homeowner’s policy?

So on the larger scale what is covered?

First things first; take a second to read our Quick Guide to Homeowners Insurance for your basic background on these policies.

Good, now we can look at the finer print.  Some very talented people write insurance policies but sometimes it takes a little explanation (sometimes in flow chart form) to understand what you have bought.   Overall, the basic policies cover just that, the basics.  Note not all policies are the same and one word can change the outcome. 

Your Covered!

Typically, perils are broken into three groups, and are as follows:

Group 1

Fire/Lightning                        Explosions

Windstorm/Hail                    Riot/Civil Commotion

Aircraft                                 Sudden or accidental smoke damage

Vehicles                               Vandalism (Malicious Mischief)

Volcanic Eruption           

Group 2

Falling Objects                     Weight of ice, snow, sleet

Freezing of plumbing            Electrical Power Surge             

Sudden and accidental water damage from a plumbing, heating or air conditioner unit

Group 3

Items not excluded are covered rather than a named list.  This is generally more expensive but provides the   broadest coverage.   Example Spilling bleach on an oriental rug. 

Well, what’s not covered…?

Now you know what is typically covered, what about things that are not.  Some interesting things to remember your pets are not covered.  Typically only resident relatives are protected and not room mates.     Boats, trailers, recreational vehicles such as ATV’s should have separate insurance as your home policy has either limited protection or no coverage at all.    Take a look at the following list for more items not covered by your home insurance: 

            Flood damage (See our Flood Insurance post to find out more)

            Earthquakes/ Sinkholes

            Damage from War

            Damage from Nuclear Accident

            Pollution

            Intentional Damage cause by homeowner

            Structures used for business (this insurance can be purchased separately)

            Wear and tear on a home

   Deterioration, insects or rodents, settling, cracking   

            Defective construction

            Loss due to power failure

            Theft from house under construction

            Vandalism (malicious mischief) when house is vacant for 30 days

            Freezing of pipes in an unoccupied, vacant, or under-construction home

As you know, all our needs are very diverse – and these lists are not inclusive of all exclusions.  Do not assume all policies are Equal!! 

Call a Miller’s Insurance Agent Direct: (610) 269-4500

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