No doubt, the protection of home insurance takes a big load off your shoulders. However, there are some risks not covered by your standard homeowners policy. Keep reading to discover four of these risks and learn how to get protection.
4 Coverages You Should Add to Your Homeowners Insurance
The purpose of your homeowners insurance is to help you repair or replace your home if it’s damaged by a series of risks listed in your policy.
However, most policies exclude damage that results from normal wear and tear (such as most cases of water backup) and massive events (such as earthquakes).
We know what you’re thinking: these risks are nothing to be taken lightly. But don’t worry: here’s how you can round out the coverage that your homeowners insurance provides.
Earthquakes are one of the risks typically excluded from homeowners insurance. If you live in an earthquake-prone area like California, this fact should give you pause.
An earthquake insurance policy offers three types of protection: dwelling coverage, personal property coverage, and additional living expenses (ALE).
Californians have two alternatives when it comes to earthquake insurance. If they have a residential insurance policy with a company that works with the California Earthquake Authority (CEA), they can purchase a CEA policy. Otherwise, there are non-CEA alternatives on the market as well.
Water Backup Coverage and Flood Coverage
Believe it or not, backed-up drains and clogged sewer lines are not covered by most homeowners insurance policies.
As a general rule, most policies cover damage caused by water that comes “from the top down,” as is the case with rain.
However, you’re on the hook for damage caused by water that comes “from the bottom up,” be it a flood or a sewer drain that backs up. Luckily, water backup insurance and flood insurance are two coverages specifically designed to address this gap in your homeowners policy
Service Line Coverage
Most homeowners don’t know this, but they are responsible for the service lines that run under their property. This includes water pipes, telephone lines, steam pipes, and power lines, among others.
This is a particularly insidious risk because service lines are usually hidden from sight. You have no idea if, for example, the roots of a tree are invading your plumbing or if rodents are chewing away at your power lines. This type of incident becomes evident only when repairs are unavoidable. Having service line coverage is a smart way to not be caught off-guard by these expenses.
RF1 Insurance Services: Home Insurance in Southern California
Looking for homeowners insurance in the Golden State? At RF1 Insurance we work with some of the world’s most trusted insurance companies, including Safeco, Stillwater, National General Premier, Aegis, and the California Fair Plan.