When your home gets damaged in a fire, flood, or other disaster, insurance can be an absolute lifesaver.
But homeowners insurance doesn’t cover everything, so it’s important to know what kind of damage your insurance policy is likely to cover, and the kind of damage where you’re likely to be on your own.
So what, exactly, does home insurance cover?
A recent article from realtor.com answered some key questions on what home insurance typically does—and does not—cover, including:
Does home insurance cover fire? House fires are fairly common; according to the article, approximately one in 350 homeowners file a fire or lightning-related claim each year. And generally, any damage caused by fire—for example, wildfires, an electrical fire, or a grease fire on the stove—is covered by homeowner’s insurance.
Does home insurance cover water damage? Water damage is extremely common, with one in 50 homeowners filing insurance claims related to water or ice damage each year. But water coverage can be tricky. Home insurance generally covers any damage caused by sudden and accidental water-related issues—like a burst pipe or an exploding hot water heater. However, it most likely will not cover flooding from rain or storms, unless you add coverage for flooding onto your policy.
Does home insurance cover the roof? Home insurance generally does not cover roof issues related to poor maintenance or general wear and tear. But if you have damage from heavy winds, hail, or a tree falling through it, you’re most likely covered.
Each company and policy is different, so make sure to review your coverage and know what is and isn’t covered before you have an issue that could potentially happen in your area. It may help to seek out an experienced insurance professional for advice on coverage you may may want to add to your policy, just to be safe.
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