Having a home insurance policy for the house you own is a necessity, as it is the only protection you have from unforeseen perils and problems. When you buy a policy, it is always important to find out what it covers, but it is equally important for you to understand what it will not cover. While not every policy or company is the same, it is important to know that most policies will not cover the following types of problems:
Broken appliances or systems in your home
The appliances you have inside your kitchen and laundry room are not items that your insurance would cover, unless they are damaged from a fire or some other type of covered peril. If you encounter a problem with an appliance that is not working, it is your responsibility to hire someone to fix it and to pay for it out of your own pocket. The same is true for your systems such as your HVAC system and plumbing system; these are your responsibility to fix when they break. If you happen to have a home warranty plan on your house, then that may cover the costs of repairs for these things.
Damage from a lack of maintenance
If you experience a problem with your house that is the result of a lack of home maintenance, you would be responsible to pay for the repairs from the problem. A good example of this is if you did not repair your roof when it needed repairs and then ended up with water damage in your home as a result. This is a type of problem you are responsible for repairing and proper maintenance would have prevented this from happening.
Floods and earthquakes
Most policies also exclude coverage for damages that are caused by both floods and earthquakes. These are perils that you can get coverage for, if you want, but you would have to purchase separate policies. In fact, you may have to purchase policies for these types of perils from a different insurance company, because the company you use might not offer this type of coverage.
These are some of the main things that you might think your policy covers, but they are all things that are generally not covered by a basic homeowner's policy. If you have questions about the coverage you have or need, talk to your homeowners insurance agent for more information.