America’s home ownership rates recently soared to unprecedented heights according to reports from the real estate industry. In turn, this means the nation’s number of homeowner’s insurance policies surged as well. Though homeowners are required by law to carry coverage on their properties, it’s also good practice in light of all the unexpected issues known to arise. While Insurance in Winston Salem NC covers a wide range of bases, some types of damage aren’t included in the typical policy.
Certain Acts of Nature
Damage from hurricanes, floods, and earthquakes isn’t covered under standard homeowner’s policies. Despite their increasing frequency and severity, sinkholes also fall outside the typical umbrella. Additional coverage is available for such instances, but separate policies are required to cover each type of potential natural damage. Those living in areas prone to these types of disasters may want to dig a bit deeper.
Termites cause billions of dollars of damage each year in the United States. Carpenter ants and powder post beetles fall into this category as well. Mice and rats may not be quite so destructive, but they can still be costly invaders. Pest infestations and the damage they leave behind aren’t included in homeowner’s policies. Prevention and follow-up repairs are the responsibility of the homeowner.
Normal Wear and Tear
No matter how much quality and craftsmanship go into the making of a home, it’s going to succumb to continual use and exposure to the elements at some point. Homeowner’s Insurance in Winston Salem NC doesn’t apply to issues like broken gutters, decaying roofs, foundation settling, leaky pipes or the additional damage they can bring about. As is the case with pest infestations, homeowners are responsible for routine upkeep and repairs.
Mold growth stems from some problems, including damaged roofs, broken pipes, floods, leaking basements, and numerous others. Unmaintained door and window seals and poor ventilation can also lead to this type of issue. Since these initial situations are either covered by insurance or the responsibility of the homeowner to remain on top of, the cost of mold remediation falls outside the general insurance box.
Insurance can save homeowners thousands of dollars in the event of certain types of damage, but basic policies don’t cover everything. Being fully informed of what they won’t pay for is just as important as having coverage for the typical issues. Contact Darst Insurance for further details.