Does home insurance cover my personal belongings?
Home insurance is a cover that protects your most precious investment. Although some people see it just like another insurance policy, it is a cover that shields you against the risk of financial loss. Home insurance protects your house and personal belongings against disasters such as fire, accidents, or theft.
Apart from your home, your personal belongings are very important. Your clothes, appliances, sports equipment, and other personal items are protected when you buy homeowners insurance. The cover guards personal items on-premises and off-premises.
Personal belongings covered by home insurance
Home insurance covers personal belongings that are inside your house including appliances, furniture, clothing, and other personal items. It is a policy that helps your recover the above items in case of fire, theft, or other disasters listed on the coverage.
The benefit of the cover is that your belongings are well-protected even when they are not inside the house. For example, if an item is stolen or destroyed outside or inside your house, it is covered. Also, if a thief breaks into the house and steals your neighbor’s bicycle while you are aware, the bike is considered a personal item. This means the insurance will cover the loss.
The home insurance cover losses caused by storm, fire, tree falling on the roof, accident or sudden water damage, and other causes listed on the policy. However, you are advised to read the insurance policy carefully to understand the items included or excluded. The policy explains well the agreement between you and the insurance provider.
Personal belongings not covered by home insurance
There are several things that are not covered by homeowners insurance. Some of those items include animals such as fish or birds, cars, and things that hover or fly. Also, things owned by your landlord, boarders or roomers are not covered. In addition, art collections and expensive jewelry in your house are not protected by the insurance company. So, if you have personal luxury items such as gold watches, earrings, necklaces, they are not included in the basic home insurance coverage.
Some losses that are not protected by home insurance include earthquakes, flooding, sump pump failure, and others. However, you can have additional insurance policies to ensure all your personal items are protected against such calamities. The additional coverage includes:
• Luxury items – if you want to insure your luxury jewelry or art collections to the whole value, you can get special coverage.
• Earthquake – if your house is located in an earthquake-prone area, you will be required to buy an earthquake insurance policy.
• Flooding – to ensure your personal belongings are protected against flooding, you will need to get a flood insurance policy as well.
• Sump pump failure – for any unexpected loss due to sump pump failure, you might need to have sewer backup policy.
By having these additional policies, you can be certain that your personal belongings will be fully protected. But make sure everything is well outlined in your policy. Always review the policy to understand the personal belongings protected. If you cannot understand something, contact your agent to make everything clear.