Understanding How Your Home Insurance Deals with Structural Problems
The structure of your home is probably the most expensive part of your home. The structure includes the foundation and the bones of your home. The “bones” include the framework of wood and metal that create the inner workings and support of your home. In most cases, the structure of your home, including its foundation, is excluded from coverage under most standard homeowners policies. Taking the time to go over your policy with an insurance agent is essential to ensure you have sufficient coverage on your home and your belongings.
Surprise or Unexpected Incidents
Your homeowners’ insurance will more than likely cover damage from unexpected events. This includes damage to your foundation or the structure of your home that occurred when prior owners had possession of the property. Some damages may go unnoticed for several years and may even slip through an inspection by a qualified and reputable appraiser. There are times when even the most thorough inspector may not notice specific types of damage. This may be because it is in a location that is not readily visible or easily accessible.
Accidents
Accidents that cause the structure of your home to fail in any way will more than likely be covered by your standard homeowners’ policy. Hiring a construction company or handyman to make renovations to your home is advisable so that the work is performed correctly. In the event of an accident in which the structure of your home is damaged in any way due to the actions of the construction company or handyman, your homeowners’ insurance will step in and cover the cost of making any repairs. If an independent contractor covers the damage, their insurance should pick up most of the cost. If their insurance caps out, yours may pick up the excess.
Weather-related Damage
Structural damage caused by weather events such as heavy snow, tornadoes, or lightning strikes will normally be covered by your homeowners’ insurance. However, hurricanes, floods, and earthquakes require different types of coverage and won’t be covered by your standard policy. While some weather events can be predicted, most of them occur suddenly and without any real warning. With little time to prepare, there isn’t much that you can do to secure your home and prevent damage. Talking to an agent may give you a few ideas on minor upgrades you can make.
Get to Know Your Homeowners Insurance
Knowing what your insurance policy covers is important. If you have read your policy and still have questions, you need to call your agent to get answers to your questions. They can go over every detail of your policy and explain anything that is unclear to you. You may choose to have them review your policy in the process to make sure you have all of the coverage you need. Your insurance agent can help you uncover ways in which you may be able to upgrade or secure your home to protect it from various types of damage.
It is important to know what your homeowners’ insurance policy covers before you need to file a claim. Contact the agents at Remland Insurance Services Inc. to learn more about your existing homeowners’ policy and explore your options if you choose to purchase a new one. Schedule a consultation and get the answers you need! Our agents are skilled and knowledgeable, knowing what to look for when it comes to creating the perfect policy to protect your home.
