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Covered or Not? Getting to Know Your Homeowner’s Insurance Policy

On Behalf of | Oct 21, 2016 | Insurance Claims |

As a homeowner, you know you need insurance. Not only is buying homeowners’ insurance a wise decision to help protect your investment, but most mortgage companies require homeowners to insure their properties as well. Homeowners’ insurance covers a wide range of losses, and if your house suffers significant damage due to a leaky pipe, storm or neighbor’s tree, relying on your insurance policy may be your only option for rebuilding your home.

But, homeowners’ insurance does not cover everything. In fact, for some types of losses, you may need to purchase additional insurance coverage. Consider these examples, and if you need assistance dealing with your insurance company after a loss, feel free to contact the insurance claim lawyers at Saavedra | Goodwin for a confidential consultation:

Covered: Fire Damage

Standard homeowners’ insurance policies typically cover fire damage from most common causes. This includes coverage for fire damage (such as burned walls, roofs and furniture), smoke damage and water damage that occurs while fighting the fire. If you need to move out while your home is being repaired, your insurance should typically help cover your temporary additional living expenses as well.

Not Covered: Flood Damage

Homeowners’ insurance policies typically do not provide coverage for damage caused by floods. In most cases, you will need to purchase separate flood insurance for your home. If your home is located in a recognized flood zone, your mortgage company will likely require you to purchase flood insurance in addition to a standard home policy.

Covered: Wind Damage (Maybe)

Broken windows, damaged siding and other losses resulting from windstorms may be covered under your homeowners’ insurance policy. While most standard policies cover wind damage occurring during normal weather events, some policies exclude damage resulting from hurricanes and other major storms.

Not Covered: Wear and Tear

Home insurance typically does not cover the cost of addressing normal wear and tear. As far as the insurance companies are concerned, routine maintenance items like replacing worn roofing materials and siding are the homeowner’s responsibility.

Covered: Hail Damage

Damage caused by hail is a covered loss under most standard homeowners’ policies. Detached garages, sheds and other out buildings are typically covered as well.

Not Covered: Insect Infestations

Insect infestations fall into the “wear and tear” category, and, thus, are not typically covered by homeowners’ insurance. Whether you are being proactive and protecting your house against insects, or you are dealing with an active infestation, you can generally expect to have to cover these costs on your own.

Contact the Broward County Insurance Claim Lawyers at Saavedra | Goodwin

Unfortunately, even if your claim is covered, this does not always mean that you can expect your insurer to pay right away. Insurance companies regularly delay and deny valid claims, and in many cases enforcing the terms of your policy will require the help of an experienced attorney. With offices in Fort Lauderdale, the attorneys at Saavedra | Goodwin regularly represent homeowners in insurance claims throughout Broward County. To speak with an attorney about your homeowners’ insurance claim, please call (954) 928-9568 or contact us online today.

Founding Partners Damaso W. Saavedra and Allyson D. Goodwin