Owning a home is a daunting undertaking. It’s not like renting an apartment where you’re only responsible for rent and bills. There’s a lot more that needs tending to when you have a home. Having homeowners insurance in Commerce, MI is both essential and important to protecting your investment as well as your finances. Just as you need to know what’s covered under your homeowners insurance policy, you need to know what isn’t covered under your homeowners insurance policy.
As with most other policies, homeowners insurance in Commerce, MI doesn’t cover earthquakes, water damage or sinkholes. Every state except for California allows homeowners to add earthquake insurance to their homeowners policy for a fee. You can also purchase flood insurance as a separate policy, but you must go through the National Flood Insurance Program. If you were to ever experience a backup or overflow from your sump pump, it would not be covered under a basic homeowners insurance policy. Obtaining coverage is only possible by including an addendum on your insurance plan.
Just like auto insurance won’t cover maintenance repairs for your vehicle, homeowners insurance in Commerce, MI won’t take care of any maintenance issues in or around your home. Incidents such as insects, rodents and bird damage aren’t included in your policy, nor is expected wear and tear or smoke damage. Other situations that aren’t covered include appliances breaking down and poor craftsmanship since they are added to the inherent vice exclusion.
If you were to have guests over and they were to become injured while on your property, you wouldn’t be covered by homeowners insurance in Commerce, MI if someone were to sue you. The good news is that personal injury liability insurance can be purchased separately from your homeowners policy. While highly unlikely, if your home were to be damaged by the events of a war or nuclear hazard, your home insurance would not take care of it. If you park your boat or any other kind of watercraft at your home and it were to become stolen, your home insurance policy actually would cover you, but usually only up to a thousand dollars. This only applies if the theft were to occur at your home.
Sit down and take a look at your homeowners insurance policy so that you’re aware of what is and what isn’t covered. Contact your agent to see if they have any suggests about how you can better protect your home and yourself from costly repairs and unfortunate incidents.
Looking for Homeowners insurance in Commerce MI. Get in touch with Insurance Advisors Inc. for all your homeowners insurance needs.