Does Your Homeowners Insurance Really Protect You at All?

Understand what’s covered

There are eight main categories of homeowner’s insurance, designated HO-1 through HO-8. HO-1 isn’t used that much anymore, but the rest offer varying degrees of coverage against specific damages.

HO-3 is the most popular kind of coverage. It covers homeowners against all perils unless specifically exempted.

These so-called perils include, but are not limited to:

  • Lighting and fire damages
  • Hail and wind
  • Explosions
  • Damage caused by vehicles or aircraft
  • Civil unrest and riots
  • Vandalism
  • Smoke
  • Damage caused by the weight of ice, sleet, or snow
  • Damage caused by volcanoes
  • Catastrophes caused by the freezing of various home systems

The kinds of perils that are covered in a home insurance possible can be very exacting. The specificity of terms can limit coverage or require purchase of additional coverage. If you are unaware of how a claim can be successfully approved, owning such coverage can be almost self-defeating. Let’s explore some additional examples.

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