Home InsuranceWritten by Coker, Wolfe & Pomeroy, Inc. on Mar 22, 2016
You are aware, as with all policies, homeowner policies aren’t all inclusive. They have limitations on certain type losses and total exclusions on others, such as:
3) Backup of Sewers and Drains
4) Sinkhole collapse
5) Limited or no coverage for codes compliance during reconstruction
6) Power surge damage to appliances and electronics
7) Golf carts, ATV’s and watercraft
The good news is these exclusions can be covered by special endorsement.
There are, of course, other exclusions which are uninsurable and coverage just isn’t available. These include such things as: war, building settling, insect and rodent damage, rust, underground piping, etc.
Additionally, special reduced limits of coverage or valuation methods may apply to certain personal property. Areas of concern are:
4) Business Use Property
7) Works of Art
10) Compact Discs
11) Loss Assessment – Important if you belong to a homeowner association
Most of the time it costs very little add the endorsements to provide coverage for these items, but it is important we do so before a loss. If you are concerned about any of the above items please contact us. We will be glad to discuss your specific policy provisions and what is available to increase/add coverage that best fits your needs.