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4 Major Limitations In Your Home Insurance Coverage

Many policyholders do not understand everything about their home insurance. It’s understandable because many insurance agents don’t go through this information with their clients. While the basic exclusions of your policy may not have been explained to you by your agent, you should still know the general limitations in their policy. This includes getting familiarized with some of the misconceptions in terms of home insurance.
Limits for Rare Items Coverage

There are limitations in the coverage for rare items. This includes coin collections (about $500) and stamp collections (about $1,000). However, if you buy policy extensions for this, the limitations will not apply.

The 30-day Vacancy Rule

If you own a rented house that stayed vacant for over 30 days, and suffers from water or fire damage, your insurance carrier may not pay for your losses. This is called the 30-day vacancy rule, and it takes effect even if you are paying your monthly premium.

The coverage is void if you do not inform the insurer that your house has been vacant for one month. As the owner of the rented house, you may get a vacancy permit, which is an add-on in your policy. You must buy this permit within a month, so that your coverage continues after your tenants have vacated the place.

Earthquakes and Sewer Backup Coverages

Sewer backup is not covered by the basic home insurance policy, unless you purchase a specific extension. However, some firms will pay for the damages brought on by a catastrophic flooding.
Insurance companies consider overland flooding as a natural calamity that can cause major damage, in which a firm may not have the capability to cover. One earthquake could make an insurance company stop their operation.

Limitations for Jewelry Coverage

In general, home insurance covers for jewelry loss or theft with a sub-limit that may tend to undervalue the precious items. There are some insurance companies that provide their policyholders up to $6,000 worth of coverage.

It is recommended that you appraise your fine jewelry and buy an extension to your policies. In order to do this, you need to present some supporting documentation as proof of the worth of your jewelry. For example, you can show some photographs.

In addition to the information above, home remodeling or renovations can affect your policy. It is best to inform your insurer of any upgrades in your house. Furthermore, negligence and poor home maintenance can get your claim denied.

Now is the time to get your own home insurance and understand what is included in the coverage. At Sungate Insurance Agency, our mission is to ensure that we protect are clients and offer them policies that they can afford. Learn more about our products and services by calling our agency at (407) 878-7979. You can also request for a free quote by CLICKING HERE.


Contact SunGate Insurance Agency today learn more about the type of insurance you need. Click here to contact us or call (407) 878-7979.

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