If you own a home, hopefully you already know how important it is to have homeowners insurance. You want to be covered before something happens. However, your home insurance may be leaving out some of your most prized possessions.
Your house certainly is not the same as your neighbors, and neither is the property you own. Insurance should be tailored to what you own, not pre-packaged coverage with room for errors.
These items are largely excluded from coverage or have limited coverage, and should be insured individually on you homeowner’s insurance policy:
These are also excluded and need their own policy entirely:
- Motor Vehicles: If you own motorized vehicles or toys, you will likely need a policy for ATV insurance. If you’re curious in finding out more about why you might need this, read this blog post.
- Water Damage from Floods: Whether in a flood zone or not, you are susceptible to floods. Nebraska suffers from flash floods a lot during storm season. That also calls for its own policy; Flood Insurance.
These are optional coverages that are available to be added to your homeowners insurance, but are not generally automatic:
- Equipment Breakdown – covers mechanical and electrical breakdown of certain home utilities
- Refrigerated Products (coverage for spoilage of food in freezers and fridges when power goes out)
- Personal Injury liability (coverage for libel and slander lawsuits — a growing area of litigation with social media)
- Water Backup of Sewers (off site backup of sewers lines – does not cover flood)
- ID Theft
- Service Line (covers underground utility lines)
It is important to note that these are not all available with every insurance company. Fortunately, Chastain Otis is an independent insurance agency, and can shop around so that you can get the coverage you need, with NO gaps!