Radio Kiskeya : Journal 4h du 1 aout 2017 présenté par Liliane Pierre Paul. Retrouvez l’intégralité du journal dans la vidéo ci-dessous.
6 Big Things Your Homeowners Insurance Doesn’t Cover
Do you know exactly what your homeowners insurance covers? If not, take a close look at your policy. Your insurance company will recoup costs for most accidents and disasters, but some things just aren’t covered.
Understanding what your homeowners insurance doesn’t cover and why can help you plan ahead. Knowing where you’re vulnerable also enables you to make smart choices that could prevent or minimize your financial liability in the case of an accident or disaster.
1. Injuries sustained by trampolines
Yes, you read that right. If your kids and their friends (or you and your friends) are flying high on a trampoline located on your property and someone breaks a limb or two people knock heads, you are responsible. Some insurance companies won’t even insure residences that have a trampoline.Trampolines are actually more dangerous than they might look. According to the U.S. Consumer Product Safety Commission (CPSC), in 2012, an estimated 94,900 people were treated in emergency rooms for trampoline sustained injuries. From 2000 to 2009, 22 deaths resulting from trampoline accidents were reported to the commission. Injuries include colliding with another person, landing improperly and breaking or injuring limbs, getting hurt falling or jumping off and receiving injuries from hitting the trampoline’s springs or frame.
2. Aggressive dog breed attacks
Given the fact that dog bites cost insurance companies an estimated $250 million a year, it’s not surprising that certain breeds with aggressive tendencies are considered off limits when it comes to homeowners insurance. Even if you have a sweet, happy pouch, you’re unlikely to find insurance for any bites or attacks caused by certain breeds, including German shepherds, pit bulls, Dobermans, Rottweilers and even Labrador Retrievers. Some insurance companies will also refuse to insure against dog bites if your best friend has a history of aggression.
3. Floods, and sewage backup
If you want flood insurance, you must buy a separate flood insurance policy. This has been the case since 1968 when the government founded the National Flood Insurance Program, which is part of FEMA (Federal Emergency Management Agency.) Premiums for separate flood insurance vary according to your geographic area’s flood risk. There is usually a 30-day waiting period on new flood insurance.
Also be aware that sewage backups, even though they may be related to a flooding situation, are not covered within a flood insurance policy. In order to cover your home in case of the sewer backing up into your house or the sump pump overflowing, you must purchase a sewage backup rider for your main insurance.
Earthquake is another natural disaster not covered in your standard homeowners insurance. To get coverage for the extensive damage quakes can cause, including home replacement, you must get an additional earthquake policy. Most major insurers offer earthquake insurance, or you can purchase a policy from the California Earthquake Authority (CEA), which was created in the wake of the devastating 1994 Northridge, Calif. earthquake that resulted in $10 billion in losses. See more