6 hazards home insurance doesn't cover
When disaster strikes your home, home insurance is supposed to be there to help you pick up the pieces. Most of the time, it does.
But the coverage does have limits, says Carole Walker, executive director of the Rocky Mountain Insurance Information Association, an industry group based in Greenwood Village, Colo.
"Many people don't take the time to understand what is and isn't covered and mistakenly assume insurance will pay for any type of damage," Walker says.
A Bankrate survey found that 81 percent were aware flooding is not covered by regular homeowners insurance. You may have heard earthquakes also require special coverage. Yet you may not know that there are other types of damage that are excluded from most policies as well.
Walker says many policyholders learn about the exclusions the hard way.
"We often hear from people that the only time they think about what their insurance covers is when they go to file a claim," she says. "Of course, then it's too late."
Following are six hazards a standard home insurance policy may not cover.