A standard home owner's policy covers most of the things but still has certain exceptions. Home owner's insurance exclusions refer to those exceptions that the insurance policy does not cover. When looking for the best homeowner's insurance policy, you must find what the exclusions of the insurance policy are, since exclusions may vary with each company. The most common homeowner's insurance exclusions are explained below:
1. Environmental factors: Environmental factors include catastrophic natural disasters such as earthquakes, floods and hurricanes. Most home owner's insurance policies not only deny coverage against such natural calamities, but if your residence is located in a place where such events occur frequently, you will find it difficult to get a good deal on a home owner's insurance policies.
2. Accidental damage by pets: If you have pets in your home, most homeowner's insurance companies do not include coverage for any accidental damage caused by your pets.
3. Home vacancy: Suppose that you have left your home vacant for a period of one month or more unattended without appointing a caretaker and damage occurs to your home during this period. You can not make claims for that damage from your insurance provider, as per the Home vacancy exclusion. The home insurance provider can defend its exclusion for compensating the damage on the grounds that you have neglected to take care of your property. Some home owner's insurance companies allow you to keep your home vacant for up to two months.
4. External Factors: A typical Home owner's insurance policy excludes an array of external factors from coverage. These factors are: Damage to your home caused due to freezing of your indoor plumbing, Damage caused due to landslide, mudslide, snow slide and other such events, Damage caused due to your own deliberate or criminal acts, Damage due to pest infestation or by insects, Damage caused to your home due to wear and tear, rust, deterioration or corrosion of your household materials, Damage to the home exteriors due to melting, freezing, heavy frost or moving of snow. Such Damage is pretty common in heavy snow-laden areas, Damage caused due to underground water, flood waters, or water that enters your house through seepage, Home owner's insurance excludes coverage for Damage caused due to fire or any explosion, Damage caused due to events like war, acts of terrorism and pollution.
You must read your insurance terms and conditions carefully and understand the exclusions given in the policy. If required, you may buy additional coverage to get protection from perils that your insurance policy doesn't cover.