Common exclusions in homeowners coverage range from the obvious that are in every policy such as acts of war are not covered to the specific exclusions for flood, foundatation and illegal acts. Most policies can be written with specific endorsements to address risks that are not common to all policies. Consult with an insurance agent for details on exclusions and endorsements.
Keith Prim - Farmers Insurance - Dallas , TX 214-435-0791
Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
The two most common exclusions found in Homeowners insurance policies have to do with damage caused by two elements : earth and water. An exclusion for damage caused by earth movement is pretty common. Earth movement can be anything from earth quake, to sink hole or erosion or the like. In many cases, coverage for this may be able to be endorsed onto your policy. Coverage for damage caused by flood is a common exclusion and this protection is only available by purchasing a Flood Insurance policy.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
There are two basic approaches in designing a homeowner’s insurance policy. The first is to specify the perils that are covered. These almost always include fire. Only those perils mentioned are covered. The more popular policies today are “all-risk” meaning that the policy covers all perils except those that are excluded. The list of those excluded is not short! Even though they aren’t excluded there are categories of property that have “special limits.” You should review those carefully. Then the excluded list includes things like, business activities (multi-level marketing,) motorized vehicles, animals (pets,) insects (termites,) aircraft, property of boarders, trees pants etc., certain electronic devices, credit cards, EDP equipment that cannot be replaced, There are also severe restrictions if the house is vacant, There isn’t coverage for the weight of snow, continuous seepage or leakage, building settling, cracking etc., birds, vermin, rodents, smoke.
Chief Executive Officer, Coastal Homeowners Insurance Solutions, Rocky Point, NY 11778
Good question. Typical homeowners exclusions are flood, wear & tear, intentional acts and mechanical breakdown. Many policies will have exclusions for trampolines, water damage, wind exclusions, etc. It's very important that you check your individual policy for your specific exclusions. Usually towards the end of the policy you will see the exclusionary endorsement list. If you have any questions I would contact your independent insurance agent that holds the policy.
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Keith Prim - Farmers Insurance - Dallas , TX 214-435-0791