You'll be really grateful you have a homeowners insurance policy in place to assist cover the expense of repairs whether your house is damaged by lightning, hail, or any other tragedy. While home insurance typically covers a variety of common hazards that can befall your home, don't get too comfortable because it may not cover every accident that comes your way. The precise situations that are and aren't covered by a typical home insurance plan depend entirely on the details of your policy, which, contrary to what you may think, are different for each policy.

In general, the majority of house insurance plans include coverage for accidents, crimes, and natural
catastrophes. Consider: hail, wind, dog attacks, theft, vandalism, snowstorms, and pipe bursts. However, beyond that broad outline, there is no assurance that you will be protected.

Flood Insurance

The majority of regular house insurance policies don't cover flood damage caused by extreme rain, a hurricane, or an overflowing river. Flooding is described as "an excess of water on land that is ordinarily dry, impacting two or more acres of land or two or more properties" by the National Flood Insurance Program. Since intervening, the federal government is currently the main provider of affordable flood insurance. Not having flood insurance is one of the worst mistakes a homeowner can make, given the widespread flooding that has been occurring in the United States.

Earthquake Insurance

If you reside in an earthquake-prone region, you'll also need to get supplementary insurance in this area. If you reside in California, you may purchase it via the California Earthquake Authority, or the majority of insurance providers provide particular earthquake plans (most Californians live within 30 miles of an active fault line, so it makes sense to do so).

Home insurance for Water Leaks

It varies. Technically known as "seepage and leakage," damage brought on by gradual leaks may not be
covered. There must be "sudden and unintentional" water damage. Insurance against Mold Depending on what led to the mold's emergence, If mold develops as a consequence of a "covered risk," such as
water damage from a broken water heater or firemen extinguishing fires on your property, a policy could cover it.
Mold, however, won't be covered if it was brought on by dangers not covered by your policy, such floods (see above), or by recurring issues that might have been avoided, like a gradual water leak or excessive humidity.

Insurance for Sewer and Drain Backup

You could have to clean up and mend the issue yourself if the sewage backs up and floods your home because When there is a lot of rain, usually, the sewers and drains may back up into your home. Sorry Not all insurance plans will cover this. Insurance for wear and tear It does not cover damage from wear and tear.

Sourced from General Insurance and 9 Surprising Things Home Insurance Doesn't Cover (realtor.com)

Juan Mestre, Realtor Associate RSPS, AHWD, C2EX, & SFR®

?

                         RAISING THE BAR FOR REAL ESTATE SERVICES

CONSIDER: Before making any decisions, you should speak with an attorney, a financial advisor, your CPA, and any other qualified professionals for your situation, as I am not a lawyer but your neighbor's Realtor Associate. Let’s start working together towards your Real estate dreams. Reach me at 305-776-5677 or register at www.juanmestre.com or email mestre.j@ewm.com. 

Sourced and digested from several locations including but not limited to:

RisMedia for BHHS.com/blog, EWM Realty, Data from NAR & my knowledge