What Is Covered In Property Insurance Policies? What Is Not?
When you purchase a home, you also purchase property insurance to give you peace of mind that in the event of a storm or other unexpected damage, you will have the coverage you need. Before purchasing property insurance, it is important to know that not all policies cover every single situation or every piece of property. Below, our Daytona Beach residential and commercial property damage lawyer explains what is usually covered in these policies, and what is not.
What Does Property Insurance Cover?
Property insurance policies will cover different types of damage depending on the insurance company and the owner’s needs. Still, there are some commonalities among insurance policies and they are as follows:
- Natural disasters: Also known as ‘acts of God,’ damage caused by natural disasters are typically covered in property insurance policies. These can include fires, tornados, and other types of storms.
- Exterior of property: The exterior of your property can become greatly damaged during a storm. Siding may be ripped off, your roof may become damaged, and gates can be blown over.
- Property contents: Any disastrous event can cause damage to the property within your home. Damage to items such as electronics, clothing, and furniture is generally covered when it was caused by a covered event or when the item was stolen.
- Injuries to guests: If someone on your property becomes hurt, a policy could cover the cost of their doctors’ visits, medications, physical therapy appointments, and more.
What Does Property Insurance Not Cover?
Although property insurance covers many different types of damage, there are certain types that are not covered. These include:
- Intentional acts: Damage caused by an intentional act is not usually covered in property insurance policies. For example, if your home was damaged by fire, it would likely be covered by insurance. On the other hand, if you intentionally set the fire, your insurance company would not cover the damage.
- Improper maintenance: Property owners are expected to maintain their premises. If damage was caused by improper maintenance, your insurance policy will not cover it.
- Flood coverage: When water damage is caused by flooding, most insurance policies will not cover it. You can purchase this type of coverage directly from the Federal Emergency Management Agency (FEMA).
- Other buildings on the premises: Many policies will cover a main building but not other buildings on the property. For example, your insurance policy may cover damage to your home but not a detached shed, garage, or studio.
- Swimming pools: Swimming pools on a property increase the risk of a property. Some insurers will charge a higher premium when a swimming pool is on the property, while other companies will not cover them at all.
Call Our Residential and Commercial Property Damage Lawyer in Daytona Beach Today
If your property has been damaged and you are unsure if you are covered, our Daytona Beach residential and commercial property damage lawyer can help. At Bundza & Rodriguez, our seasoned attorneys can review your policy so you fully understand the terms and what is covered. Call or text us now at 386-252-5170 or contact us online to schedule a free consultation.
Source:
fema.gov/flood-insurance
