Gaps in homeowner’s insurance are not a thing anyone wants to think about, but there are certain situations where your homeowner’s policy will not cover your claim.  It is a horrible thing to think about, but knowing what these are can help you better prepare ahead of time and possibly be able to provide extra coverage in case of an unexpected problem.

Homeowners insurance does not cover flood insurance.  This can be purchased separately but is not covered in a standard insurance policy.  Sewer back up is not covered with flood insurance, so it is important to understand the specifics of your policy and what is and isn’t covered.

Sewage and drain back ups are not generally covered by your insurance policy.  However, they can be added to your policy by endorsement and with a specific limit.  This is particularly important to have added if a homeowner has a basement in which they store valuables or if their basement has been remodeled for use.  Be sure to have adequate coverage to include all appliances such as washers, dryers and water heaters for example ensure complete coverage against water and sewage damage.  Talking with your insurance agent will definitely help you decide on the additional coverage.

Valuables such as fine jewelry and other possessions are clearly stated in a homeowner’s policy in different categories.  However, when the property includes things like recreational vehicles or trailers, it is important to review your coverage to see what the specific limits are, so that you can be adequately covered in your liability clause.

If part of your property is used for rental purposes, having adequate coverage against damage to rental property, intentional or non-intentional is something that you should consider.  This addition is not expensive and can save you money in the long run should a disaster strike or an unhappy tenant destroys your rental property.

Outside buildings such as detached garages, gazebos and sheds should be carefully considered when looking at your insurance policy.  There are certain limits that are placed on these structures so it is very important to discuss this with your insurance agent to see if an endorsement can be increased to protect your outside structures that are not attached to your home.

Knowing what these insurance gaps are can help you to determine if you need to make changes to your homeowner’s insurance policy.  These are important to know as you may need extra coverage to protect your property, not just your home.