When you are shopping around for insurance in northern Alabama, you must know what the kind of coverage you are entitled to. For instance, due to the high chances of being hit by a tornado, home insurance will cover damage from winds, hurricanes, hail storms, and tornados. However, most insurance policies will not cover the following:
- Flood damage – Unfortunately, insurance policies do not cover flood damage, and you are required to purchase a flood loss policy from the government’s National Flood Insurance Program. In fact, FEMA estimated that an inch of water damage in your home could cause over $20K worth of damage. You will need to purchase this policy in order to be protected.
- Home depreciation – The fact of the matter is that the value of your home could go up or down based on how desirable your particular area is. However, it is a known fact that the home itself starts depreciating over time, and insurance will not cover any of those costs.
- Wear and tear damage – Aside from home depreciation, wear and tear in the home is expected to happen. Your flooring becomes worn out and old. The walls and ceiling do as well. Plumbing gets old and will cause water to leak through the ceiling if you are using a shower on the upper level. Unfortunately, home insurance will not cover home wear and tear. And, you will need to be prepared to keep your home maintained so you do not run into problems that are associated with common wear and tear with your home.
- Deliberate destruction of property – If anyone in your home purposely destroys parts of your home, unfortunately, home insurance will not cover those costs of destruction. That also means if a kid was playing ball right near your property and accidentally throws the ball through your window, then that damage will not be covered either.
Now that you know about what most home insurance plans will not cover, you will want to shop around for the best policy that covers as much as any home insurance policy can. Don’t make a decision to settle on the first home insurance offer you receive. You will want to explore at least 3 other policies to see what is covered and what your costs will be. Good luck in finding the right home insurance policy for your home.