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Home insurance for residents living around Lakewood, CO, and surrounding regions is designed to provide financial protection during unexpected disasters. Still, it’s crucial to understand that not every situation is covered. Knowing what your policy excludes before filing a claim can save you from unpleasant surprises during a crisis.
Common Home Insurance Exclusions
While home insurance covers many perils, such as fire, theft, and certain natural disasters, there are common exclusions that homeowners should be aware of. Most standard policies do not cover damage caused by floods or earthquakes. These natural events typically require separate insurance policies, such as flood insurance or earthquake insurance. Additionally, normal wear and tear or neglect that leads to damage is not covered. Insurers will not pay for repairs if a home deteriorates over time due to lack of maintenance.
Another common exclusion is damage caused by certain types of mold, pests, or infestations. Many policies specifically exclude damage caused by termites, bed bugs, and rodents. Homeowners may also be responsible for any damages due to gradual leaks that were not promptly addressed.
The Importance of Reviewing Your Policy
Understanding exclusions in your home insurance policy is essential to avoid denied claims when you need most assistance. Reading through the fine print or discussing your policy with your insurance agent can help you clarify what is and isn’t covered. If your home is at risk for specific events that are excluded, such as flooding or earthquakes, you may need to purchase additional coverage.
Colling Insurance Services Inc. For Better Understanding of Insurance
Colling Insurance Services Inc. offers all of the information you need to get insurance. Our agency serves the locations in and near Lakewood, CO. Contact us today.