Today, we'll break down the logistics of what is and what is not covered by standard homeowner's insurance. And, we'll provide recommendations on how to best supplement that coverage for your home.
Which Events Are Covered By Homeowners Insurance In Westminster, CO?
It's important to note that every homeowner's policy is different. Depending on your geographic area, policy riders, and other factors, your list of "covered perils" may be different from your neighbor's.
That said, a standard HO-3 homeowner's insurance policy includes four types of protection for:
- Your home/dwelling
- Other structures on your property (e.g., garages, shacks, etc.)
- Personal property
- And liability coverage (for injuries or damage to someone else's property)
Your dwelling coverage is there to help pay for the rebuilding or repair of the physical structure of your home if it's damaged by a covered hazard. It will typically cover damage caused by events like:
- Fires and/or lightning strikes
- Storms (e.g., wind, hail, snow, etc.)
- Theft and/or vandalism
- Falling objects
- Motor vehicles
Other Structures Protection
Aside from your home, other items on your property can become damaged as well. Do you have a detached garage or a shack in your backyard? What about a gazebo or fireplace? Is your property surrounded by a fence?
If so, those structures are protected by your homeowner's insurance. In most cases, your other structures are typically covered for the same perils as your dwelling.
Personal Property Protection
All the stuff in your home deserves to be protected too. Your furniture, electronics, clothing, and other personal items may be covered by the personal property coverage in your home policy.
Of course, this protection is only applicable for the "covered perils" outlined above.
Let's assume you invite some friends over for dinner and one of them slips on the front steps and suffers an injury. Your homeowner's insurance may cover the resulting legal expenses or medical bills if you are found at fault.
Your liability protection is there to help you out when any non-residents are injured while on your property.
What Is NOT Covered By Your Homeowner's Insurance?
While your home insurance in Westminster, CO covers plenty of events, many other perils may not be covered. Never assume that you are fully protected! Make sure you have a clear understanding of your policy and what perils are covered.
Here are just a few coverage exclusions of standard homeowner's policies.
Floods are not common in Colorado, but they happen on occasion. Remember the Colorado floods of 2013? They caused more than $4 billion in damages across seventeen counties in Colorado.
Unfortunately, homeowners insurance policies do not cover floods. If you'd like to acquire coverage for floods, you'll need to purchase it through the National Flood Insurance Program.
Standard homeowners' policies exclude coverage for earthquake damage. It's easy to understand why: even relatively mild tremors can destroy furnishings, cause walls to collapse, and even damage housing foundations.
If you want to be prepared for every possibility, then consider adding earthquake insurance as a rider to your policy. Fortunately, Colorado has a low-to-moderate earthquake hazard, so your rates will be more affordable than in other areas, like California.
Every homeowner knows that home maintenance is incredibly important. If you fail to maintain your property like your roof or your siding, parts of your home will fall into disrepair. This may lead to things like:
- Damage from pests (e.g., termites, rodents, birds, etc.)
- Interior mold growths and wood rot
- Sewer backup issues
- And more
Those maintenance-related issues are, unfortunately, not covered in most policies. However, you may add certain riders to your policy for some maintenance issues, like a sewer backup rider.
Acts Of War
While it's not a pleasant thought, insurance companies do not cover financial damages due to any acts of war.
Certain Types Of Property
Liability coverage may not apply to certain hazardous items on your property. This is because your guests may have a higher risk of injury on your premises. That means your homeowner's liability insurance likely has exceptions for:
- Diving boards
- And even larger, more aggressive dog breeds
You might be able to purchase a policy rider to cover these items, but that depends on the insurer you use.
It should come as no surprise that your homeowner's insurance doesn't cover your vehicle. After all, you have a separate policy for your car. But what happens if your car is broken into while it's in your driveway or your garage?
Your homeowner's insurance will not cover damage to your automobile. However, your policy likely provides some coverage for personal items that may be stolen from your vehicle!
In most cases, it's best to not rely on your home policy and just get more comprehensive auto insurance coverage.
Request Your Quote For Homeowners Insurance In Westminster, CO
If you're looking to upgrade the coverage for your home, you've come to the right place.
At Adler Insurance Group, we can craft a custom policy for your property that provides quality coverage at an affordable price point. We'll make sure you are thoroughly covered for as many perils as possible. And if you ever need to adjust your coverage, our friendly agents can make those changes for you in no time.
Contact Adler Insurance Group today to get your accurate quote for homeowner's insurance in Westminster, CO.