What does Home Insurance NOT cover?

In the words of Dan Brown, “Knowledge grows exponentially. The more we know, the greater our ability to learn, and the faster we expand our knowledge base”. Knowledge is Power. It is good to be well-read but it is equally important to understand what your home insurance covers and what is not covered.

Property insurance protects you from risks, damages and losses that may affect your home due to any unpredictable event. Your home is one of the most valuable assets and having protection is important because it takes a fortune to build your dream house.

A home insurance policy provides coverage against theft, fire, burglary, accidental damage, earthquake, floods, and more. You must have checked these coverages under your home insurance plan, but did you check the exclusions in your home insurance policy?

It is extremely important to know what is not covered in your home insurance policy before purchasing a plan. A home insurance policy does not cover the following –

1. Intentional Destruction of property: If an insurer determines that damages to your property could have been prevented, you will not be covered. You could be charged with insurance fraud if a claim is filed for damages caused intentionally.
2. Pre-existing damage to your home: Property Insurance is for sudden or accidental problems, such as burglaries and fires, not for general wear and tear. Performing basic maintenance is a must.

Maintaining your home’s exterior, roof, fixing leaking pipes, and replacing worn-out floors are ways to avoid huge expenses that your insurance won’t cover.

3. Damage caused by radioactivity from a nuclear power plant or nuclear waste: Your home insurance does not provide cover against nuclear accidents. Nuclear stations are required to provide their own liability insurance to cover damages if any.
4. Damage/Loss caused directly or indirectly in consequence of invasion or war
5. If the insured person’s house is unoccupied for more than 45 days continuously, theft and burglary claims are void.

Always read your home insurance policy carefully and understand the coverage, benefits, and premium details. Be sure to have a complete understanding of the exclusions of your policy. With Elephant home Insurance policies, keep your home protected against any unfortunate events.