Homeowners Insurance: Do You Have Enough Coverage?

Homeowners insurance is a valuable tool that can protect a homeowner in the event a person is injured on their property and protects them from other types of unexpected damages to the house. However, many people do not pause and think about whether or not they have enough homeowners insurance coverage to handle a major incident should one occur. Here, we want to discuss what damages homeowners insurance covers, what is typically not covered by homeowners insurance, and whether or not you should consider increasing your liability limits.

Damages Your Homeowners Insurance Covers

When a person has a valid homeowners insurance policy, they will typically receive the following damage coverage:

• Dwelling. One of the basic coverages provided by a homeowners insurance policy is protection for the dwelling. This will typically cover the structure of a home where a person lives, and it may also help cover other structures that are attached to the home, including a deck or a garage.
• Other structures. Most homeowners insurance policies will also include other structures that are on the property but separated from the home. This can include a detached garage, fences, a tool shed, pool houses, and more.
• Personal property. Homeowners insurance can also provide coverage for the belongings within the structure. For example, if a major disaster takes out the structure of a home, it is very likely that all of the property inside the home will be damaged and need to be replaced. Homeowners insurance can help cover electronics, furniture, appliances, etc. Additionally, a person may be able to purchase extended coverage for items such as jewelry, clothing, watches, and other personal property.
• Injury liability. Most homeowners insurance policies provide liability coverage for others who come onto the property and sustain injuries or property damage losses. For example, if a person visits a home and trips over a broken porch step, the homeowners insurance policy will typically pay for the medical bills associated with the fall.

Events and Damages not Covered by Homeowners Insurance

It is important to point out that homeowners insurance does not cover every possible disaster that could occur that causes damage to a home or the property inside the home. Most homeowners insurance policies will have exclusions for the following:

• Major destructive events. In general, various disasters that cause damage across a wide geographical area are not covered by homeowners insurance policies. Specifically, some of the most common exclusions in these policies include the following:
  • Flood damage
  • Earthquake damage
  • Acts of war
  • Acts by government officials
  • Nuclear incidents
• Damage caused by negligence or normal wear and tear. Homeowners insurance policies are designed to cover sudden accidents and events that are beyond the homeowner’s control. This does not include the normal wear and tear that a property is expected to incur or negligent actions that cause damage to property.
• Various types of property specifically excluded. There could be exclusions inside a homeowners insurance policy for specific items on a person’s property. Some of the most common exclusions include diving boards, treehouses, trampolines, and certain dog breeds that are deemed particularly dangerous that may cause harm to guests.

Consider Increasing Your Limits

We always encourage everyone to evaluate their homeowners insurance policies at least one time a year. The best time to do this is when the policy expires and must be renewed. If you have determined that you may need some additional coverage for your structure or your property, speak to your homeowners insurance policy provider to make the changes that need to be made. It is better to have the insurance in place and ready in the event an incident occurs on your property. If your claim has been denied and you believe the insurance company acted in bad faith, contact our San Diego homeowners insurance dispute attorney, we can help you recover the benefits that you deserve.