When it comes to making sure that your home and family are safe and sound, few things are as important as choosing the right insurance plan. About six months ago, my home burned to the ground, and without the right insurance plan, we would have been toast financially. Fortunately, because we had prepared properly, we didn't have any problems when it came to making sure that we could rebuild our place. This website is here to help anyone who might be struggling with which insurance policy to choose. Check out this blog for great information on finding the perfect policy.
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There are many things about your homeowner's insurance policy that you may not be aware of. The following are four of them:
You may be required to use licensed contractors
There are jobs that you may want to use a local handyman or perhaps a contractor that isn't licensed. The problem you may run into is if there is damage to your home that is related to any repairs or other work that was done by an unlicensed repairman or contractor. If there is a fire that is related to a repair or installation work that was done by an unlicensed person, you may be on the hook for all of the damages. Also, you should make sure that a contractor carries workers' compensation insurance for their employees. If someone gets hurt while working on your property, your homeowner's insurance company may rule that the worker was a subcontractor. As such, you are responsible for paying compensation.
You will be held responsible for the maintenance of your house
If you neglect basic upkeep of your house, and this leads to damage, it is possible that an insurance claim will be denied. Granted, it would need to be an obvious case of neglect, but homeowners are often surprised when their claim is denied for this reason.
Your policy may not cover your dog
One of the protections afforded a homeowner is against liability for dog bites. If anyone were to get bitten by your pet and they sue, your assets will be protected. What many people are not aware of is that certain breeds of dog may not be included in their policy. Large, aggressive breeds are often excluded. It is possible you have a pet that is not covered by your policy. This usually happens when the dog is acquired years after the policy was purchased. If you have such a dog or you are thinking about buying one, you should check with your insurance agent.
You home business is not covered
If you have started a business and have assets for that business in your home, your policy will not cover them if they are damaged. It is true that your policy will cover your personal items, albeit up to certain limits depending upon the type of item, but nothing associated with a business. This may not be an issue when you first start a home business, but over time, a business can grow to the point where you need to insure your assets against fire and theft. However, you will need a separate insurance policy.
For your own protection, it is best to read through your policy and ask your agent any questions you may have.
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