You are required to get homeowners insurance when you purchase a home. You probably are so excited about buying a home that you neglect to learn the ins and outs of your policy.

Unfortunately, there are many things that insurance won’t cover, yet many homeowners think that they are covered under their home insurance policy. Below, you’ll find some things that are often not covered by your home insurance, even though you might think they are. 

Broken Pipes

While your home insurance will cover damage from water in your home (different than flood insurance), the policy probably won’t cover what it takes to fix broken pipes. Your best bet in this area is prevention. You should be sure that your pipes are insulated properly and that there is adequate airflow around the pipes in your cabinets.

Floods

You’ll also need a separate policy in the event of a flood or damage from rising water. Homeowner’s policies do not cover damage or losses caused by flooding. You can get optional coverage and this is highly recommended, especially if you live near a body of water or in an area that’s prone to flooding.

Your Dog

Even man’s best friend isn’t immune to the insurance company’s discrimination. Many companies refuse to include certain dog breeds in their standard home insurance coverage.

And if your dog bites someone, the insurance company may charge a higher premium or exclude your dog from coverage, no matter the breed. Check your policy to see if Fido is included in your policy. If not, you may need to purchase additional coverage.

Mold

Mold can be super sneaky, hiding behind your walls or in your ceilings and floors. It may grow for months or years before you discover it. Whether or not your insurance policy covers the damage can depend on the source of the water that caused the mold.

Even policies that cover mold often limit the payout to $10,000. Just ask anyone who’s had to rip out and replace a kitchen due to a leaky pipe if $10,000 is enough! You can purchase a rider to add or extend coverage for mold issues in your home.

Termites

There’s a reason the termite has the reputation it does.Colonies from a few hundred to several million can devastate the structural integrity of your home. Sagging floors,walls, and ceilings are another results of termite damage. These pests cause billions of dollars in damage per year and their ability to go undetected for years is an unsettling thought.

A ready source of food and entry for termites can be found in wood, paper, or dead plant material that is in contact with soil near the house.  Because termite damage is rarely covered under homeowners policies, arrange to have a licensed pest control company inspect and treat your home on a regular basis. After all,no one wants to sleep with bugs in the walls!

Jewelry, fine art, rare collections

Special personal property insurance is a way to protect your most valuable items—things like jewelry, fine art, and other collections. Although you may have coverage for these belongings with your standard policy,limitations may apply, especially to the high-value items. Ask about a separate rider to cover special items.

Sewer Backup

If a sewer backs up, you’ll face some serious damage in your home. Unfortunately, your homeowners policy will not cover this type of damage. The repairs can be hefty. If you wish, you can always add this type of coverage to your policy. 

Only Portions Of Disasters May Be Covered

If a hurricane hits, any damage that has been caused by the wind will be covered by your home insurance policy. If you face flooding, however,and do not have a flood insurance policy, you’ll be out of luck. Without extra coverage, some natural disasters can be a special disaster for you and your wallet.