Budget Concerns: How Much Insurance is Enough?

5 Things You May Be Surprised To Learn Are Or Are Not Covered By Most Homeowners Insurance Policies

22 August 2023

Dustin Duncan

While all homeowners are required to carry homeowners insurance, many people are not really aware of what is or is not covered by these insurance policies. Unfortunately, this can lead to individuals either finding themselves without the coverage they need or to underutilizing the coverage they do have. That is why you should take a moment to continue reading so that you can learn more about five things you may be surprised are or are not covered by most homeowners insurance policies. 

#1: Most Homeowners Insurance Policies Do Cover Food Replacement After A Power Outage

If you lose a significant amount of food as the result of a prolonged power outage or appliance failure, replacing this food can quickly become expensive. What you may not know is that your homeowners insurance can often help you to cover this expense. 

#2: Most Homeowners Insurance Does Not Cover Flooding

The need to purchase separate flood insurance is one of the most commonly overlooked deficiencies of most standard homeowners insurance policies. If you do not currently have a separate flood insurance policy, you will want to check with your insurance carrier to ensure you have the coverage you need in case of a flood in your home. 

#3: Most Homeowners Insurance Policies Do Cover Temporary Lodging 

If you find yourself needing to stay in a hotel or a short-term rental while your home is undergoing repairs, your homeowners insurance may be able to help cover the cost of this temporary lodging. It is important to note that this coverage only applies to lodging costs resulting from necessary repairs that have left you unable to remain in your home. This coverage will not apply if the repairs being completed are voluntary repairs such as a renovation or remodel. 

#4: Most Homeowners Insurance Does Not Cover Hurricanes Or Earthquakes

Many insurance carriers will require you to purchase a separate policy or a ride-on policy if you require coverage for damage done by a hurricane or earthquake. While not all homeowners will find this type of coverage beneficial, homeowners who live in areas that are prone to these types of natural disasters will certainly want to inquire about this type of additional coverage. 

#5: Most Homeowners Insurance Does Cover Items In Your Vehicle

If your personal belongings are stolen out of your vehicle, your homeowners insurance may be able to help cover the cost of replacing these items. This is because most homeowners insurance policies provide protection for all of your personal belongings even when they are in transit or being used outside of the home. 

For more information, contact a company such as the Ronald H. Krupa Insurance Agency.

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