When it comes to homeowner's insurance, there are some things that you want to be sure you understand about the insurance that isn't common knowledge. Before you buy a policy, it is important for you to be sure you have all the information that you need in order to make an educated decision. Here are some things to know about.
Some things need to be added
If you live in a region that deals with earthquakes, then don't expect them to be automatically added to your policy. You may need to specify you want earthquake coverage and add it separately. Also, in high-risk areas for things like tornadoes or hurricanes, they can be added to the policy, but it can be pricey to add them. However, if you are in a high-risk area, then you should really consider having them added.
Home-based businesses are handled differently
If you run a business out of your home where you have clients that come to you, if you store merchandise or if you have special equipment for your business, then the business portion of your home will require separate coverage since it won't technically be considered to be a part of your home, but will rather be a home-based business.
Some items may not be fully covered with your regular policy
If you have some expensive valuables in your home, such as artwork or jewelry, then those items will likely exceed the amount of your policy. In this case, you are going to want to see about increasing the amount of your policy or taking out a second policy that will specifically cover those items.
Your home must be properly maintained
If it is determined that your home had a problem, such as a fire or a flood due to neglect, then the homeowner's insurance may not pay out. In order for your home to be covered and for the insurance to pay out they must see that your own neglect isn't what caused the problem to take place.
Some dog breeds won't be covered
If you have a dog that is deemed to be a dangerous breed, then they will be excluded from your policy, and this means that anything that happens due to the dog won't be covered. In some cases, a homeowner's insurance company will charge you a higher premium, and in some cases, they may even deny you coverage altogether.
Contact a company like ALTRE Insurance Agency Inc today for more information and assistance.