You might be surprised to learn some of the things that are not included in a standard home insurance package. If you need coverage for something on the list below, talk to Alcorn Insurance Agency in Chama, NM, about purchasing an additional rider or supplemental insurance for your home. Your insurance agent can customize an affordable insurance package that includes supplemental policies for threats that are not included in your typical home policy. 

5 Things Your Home Insurance May Not Cover in Full

Natural Disasters

Earthquake damage is often not covered by standard home insurance policies. Less common phenomena like sinkholes under your foundation are also not covered. Damage caused by extreme weather events may not qualify for a check from your insurer either. Check to see if you need additional coverage for these events.

Water Damage

It depends on how your water damage occurs; if it’s caused by flooding due to rain or rising rivers, you may not be covered. Burst pipes or a broken water heater might be covered depending on what caused them to fail. Check the fine print, as this is an area that surprises many homeowners.

Vehicle Damage

Vehicles damaged while parked on your property are not covered by your home insurance, even if they are damaged by fire or a falling tree. You should be able to make a car insurance claim, though.

Complete Destruction of Property

If your home is somehow damaged beyond repair, insurers determine the payout based on the property’s replacement value or fair market value. Fair market value may not cover the cost of a new home, so be careful here. Even if the damage was caused by a covered event, you may not get the payout you need unless you opt for full replacement value in your coverage.

Infestations

If your home becomes infested by insects, rats, or even mold, your insurance policy won’t cover getting rid of these problems. This is typically a maintenance issue that you’ll have to pay for on your own.

If you’re worried about any of these things happening to you, talk to an agent at Alcorn Insurance Agency in Chama. Call them at (575) 756-2197 or visit their website to learn more.