Typical exclusions and limitations
found in many homeowners policies
We want you to know more
about your insurance protection.
As good as they are, most homeowners policies leave
coverage gaps that can expose the typical family to serious
loss. We encourage you to study this list. If you feel that
you may have uncomfortable gaps in your insurance protection,
give us a call.
1. Your homeowners policy may not fully pay the cost to
rebuild your home, particularly at today's prices.
2. Under the typical homeowners policy, the reimbursement
you receive to replace or repair damaged property
may be only a fraction of the actual cost of the item
because insurance companies apply "depreciation"
(the company's judgment of how much value you
received from the item before it was damaged).
3. If you own a recreational vehicle, it may not be properly insured.
4.
Your boat may not be properly insured.
5. Work
tools used away from home and kept in your
car or truck, at a job site or plant may not be covered.
6. If you carry over $200 in cash or keep more than
$200 in your home it may not be covered.
7.
If you have a coin collection valued at more than $200
or precious metals such as gold or silver worth more
than $200
they may not be covered.
8. If your are a salesperson, samples kept in your home
or automobile may not be covered.
9. Securities, bank notes or stamp collections kept in your home
and valued
at more than
$1000 may not be covered.
10. Valuable jewelry and furs kept in your home may not be covered.
11. Cameras, VCRs, musical instruments, crystal,
or figurines may not be covered.
12. A home office from which you conduct business may not be covered.
13. Antiques and valuable paintings may not be covered.
14. Silverware, goldware, and pewterware may not be covered.
15.
Guns kept in your home may not be covered.
16. Injuries to employees in your home such as a cleaning
person or house sitter may not be covered.
17. Child care in your home provided to others for a
fee requires special coverage.
18. Damage to your home and contents caused by flooding
is not covered by standard homeowners policies.
19. Damage to your home and contents caused by earthquakes
is not covered by standard homeowners policies.
20. Damage to your home and contents caused
by sewer back-up may not be covered.
If you have a substantial net worth, your standard
homeowners and automobile policies may not provide
adequate coverage to protect your financial security
from a serious liability claim.
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