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Investing in home insurance is always a good decision for any homeowner. A home insurance policy provides a range of financial protection for property owners.

Most policies provide sizable coverage for accidental and unavoidable types of incidents. This includes situations such as theft from a break-in, damage from fire, or weather damage. However, every policy has exclusions. Exclusions are specific hazards the policy will not protect.

What Are Perils?

If you take a close look at your home insurance policy, it will list the perils covered by the plan.

The term perils refers to the types of risks, incidents, or events that might affect the home. For example, most home insurance covers perils such as fire, vandalism, and theft.

Most insurance policies outline perils thoroughly and explain non-covered types of perils. They want the policyholder to know the difference between covered and excluded perils. The perils the plan does not cover are exclusions. These are often in their own section of the plan.

What Are Common Home Insurance Exclusions?

Each plan is unique. You can also usually customize home insurance to better represent the coverage you need. Some examples of exclusions include the following:

  • Maintenance issues: Home insurance will often not cover losses from maintenance-related events. This includes pest damage, rust, mold, wear and tear, and rot.
  • Policies often do not cover defamation liability. This includes claims against the homeowner for libel and slander.
  • Some policies might exclude personal injury liabilities unless you specifically ask to include them. Personal injury liabilities might include pet bites or slip and fall injuries to third parties.
  • Most policies do not cover floods and water damage from floods. A separate flood insurance plan is necessary for flood coverage in most areas.
  • Mechanical breakdowns and hidden defects are not covered under most policies.
  • Acts of war and terrorism are generally exclusions.
  • Nuclear hazards are exclusions.
  • Earthquakes are another exclusion in most situations. Those who live in quake zones often have to get this coverage separately.

Read your existing home insurance plan to gather more information about exclusions that may be risks for you. For example, if you live in an area that is at a high risk for flooding or earthquakes, a separate policy is necessary. Otherwise, your home may suffer damage you must pay for out-of-pocket.

It is valuable to work closely with your home insurance agent to customize a plan that meets your needs. In some cases, you can purchase endorsements or add-ons to your coverage to make it a better fit for you. Add-ons to your coverage to make it a better fit for you.

Miller's Insurance Agency, Inc. has your coverage needs in mind. One of our agents is standing by to help you get a fast, free quote on West Chester home insurance. Call us at (610) 269-4500 for more information.

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