You don’t want to wait until disaster strikes to find out that the damages aren’t covered by your homeowners insurance. Getting that dismissal from your insurer will only make a bad situation that much worse.
So, find out what types of situations usually aren’t covered by homeowners insurance policies.
Standard homeowners insurance policies do not cover costs related to rodent infestations. If your house is suddenly crawling with mice or rats (along with other types of vermin), you won’t get help from your insurer. You will have to pay for pest control services out of your own pocket. And you’ll have to shoulder the responsibility for repairs needed after pest control has finished their job, like fixing electrical wiring that rodents chewed through.
Why doesn’t homeowners insurance cover this type of problem? Well, rodent infestations can be blamed on the owners not cleaning and maintaining their property. Rodents are often drawn to messy dwellings that have garbage and food out in the open.
In the same vein as rodent infestation, insect infestation is also not covered by standard homeowners insurance policies. Even termite infestations aren’t covered.
Your homeowners insurance will cover some types of water damage, like damage from a burst pipe or an overflowing appliance. It will not offer coverage for water damage from overland flooding. If part of your house goes underwater during a flood, your policy won’t help with the repairs.
Another type of water damage that your policy won’t cover is sewer backup. Sewer backup often happens when wastewater is prevented from traveling into the sewer system. Eventually, that wastewater builds up and expels through the lowest-level drains.
Any damages from an earthquake or land movement (for example, mudslide) is exempt from homeowners insurance. If the earthquake somehow leads to a housefire, your insurer may offer some coverage.
What Can You Do About the Costs?
So, these situations aren’t covered by your homeowners insurance — now what? What can you do to prepare for the costs?
You can sign up for a supplementary insurance policy and fill that coverage gap. For instance, signing up for flooding insurance can help you if your house ever suffers from damages related to overland flooding. Just because your homeowners insurance doesn’t provide protection, doesn’t mean that no insurance will.
Set up an emergency fund. With a fully-stocked emergency fund, you can afford to pay for services that you’re confident your homeowners insurance won’t help with. So, if you have mice skittering behind your walls, you can withdraw the necessary savings from your emergency fund to hire professional pest control services without disrupting your usual budget.
What if you don’t have enough savings in your emergency fund? Then, you can turn to a credit tool as a solution! Put the charge onto one of your credit cards, as long as you have enough credit available. Go to a website like CreditFresh and see whether you’re qualified for a fast personal loan with a quick application process. If you meet all of the requirements for the loan, you can fill out and submit your application shortly. The process could take you less than ten minutes! You just might get approved for the fast loan, which you could then use to cover your emergency expense without breaking a sweat.
You should only use personal loans for emergencies. They are not meant for regular, everyday expenses.
Stop living in the dark. Find out what your homeowners insurance won’t cover and find an alternative solution!