What does homeowner’s insurance cover?

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There are two basic types of homeowner’s insurance that indicate whether your personal property and belongings are covered or not, or whether you’re

entitled to liability or loss-of-use coverage or not. These policy-types are called named peril policies (covers only types of disasters that are named in the policy) and open peril policies (covers everything except perils not explicitly named in the policy).

Covered perils

You’ll be insured against these perils on just about every homeowner’s insurance policy.

  • Fire
  • Smoke
  • Windstorms
  • Lightning strikes
  • Hail
  • Explosions
  • Vandalism
  • Theft
  • Vehicle collision
  • Broader named-peril insurance policies may also add coverage for:
  • Accidental water damage
  • Weight of snow or ice
  • Freezing of plumbing
  • Falling objects

What does homeowner’s insurance not cover?

The most common exclusions that no homeowners insurance company will cover unless under the most generous of circumstances are:

  • Earthquakes
  • Floods
  • Power failures
  • Neglect
  • Ordinance of law Mischievous acts
  • Bed bugs
  • Termites
  • Mold
  • Sinkholes