What you Don’t Know about your Homeowner’s Insurance Policy Could Cost you Big – Part I

Buyer

Everyone who owns a Jacksonville home must have a homeowner’s insurance policy, yet these policies are often misunderstood. And unfortunately, most homeowners don’t realize their homeowner’s insurance does not cover specific things until it is too late.

Owning a homeowner’s insurance policy is just like any other type of insurance: there are different levels of coverage, different inclusions and certainly different exclusions. It is up you to educate yourself on the nuances of your homeowner’s insurance policy so that you will not find yourself stuck in a financial disaster should something happen to your home or your home’s belongings.

Am I protected from flooding?

No. Flood damage is not protected by a standard homeowner’s insurance policy, as was painfully evident when so many people during the Hurricane Katrina flooding lost their homes and possessions and had nothing because their homes weren’t covered due to flood damage.

If you live in any area that even has the slightest chance of flooding, then you’ll want to acquire separate flood insurance through the National Flood Insurance Program.

Are my vehicles protected through my homeowner’s insurance policy?

No. Even if your vehicles (cars, boats, motorcycles) are stolen, vandalized or damaged on your property, they are not covered under your standard homeowner’s insurance policy.

Is a break in my water or sewer line covered under my homeowner’s insurance policy?

No, a break in your water or sewer line on your Jacksonville property – which can be astronomically expensive to repair - is not covered under your standard homeowner’s insurance policy. You can, however, take out separate policies, through your water company, that will cover the expenses and damage caused by a broken water or sewage line.

Is insect infestation covered under my homeowner’s insurance policy?

No. Any damage caused by termites or other insects is not covered under a standard homeowner’s insurance policy. You can, however, take out policies through local pest control companies to protect yourself against insect damage.

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