WEDNESDAY, MAY 18, 2022
Home insurance provides coverage in case your dwelling or personal belongings are lost or damaged due to a range of incidents. Not everything is included under a basic home insurance policy, however.
Dwelling Coverage Exclusions
Dwelling coverage generally covers the physical home and its attached structures, though it can be extended to detached structures. It may cover roofs, siding, basements, attached garages, porches and more.
Structures that are normally excluded from dwelling coverage include fences, outdoor signs, landscaping and other unattached structures. Some unattached garages may be covered under additional insurance.
Personal Belongings Exclusions
Personal belongings coverage provides compensation for personal items that are lost or damaged due to a covered incident. Basic items covered under personal belongings coverage include clothes, books, furniture, pet items and more. 
Not all belongings are covered. Expensive items may have limited coverage under home insurance. Jewelry, art, collectibles, silverware and furs have limits when it comes to home insurance coverage. Most home insurance policies provide a maximum of $1,000 per item and $5,000 per incident for jewelry. You can purchase additional policy floaters to cover your expensive jewelry or art. This especially useful for unique art pieces and jewelry such as engagement rings.
Paper money and documents are generally excluded from home insurance coverage.
Incident Exclusions
Basic home insurance policies will cover your home and items from:
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Smoke
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Explosions
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Falling objects
Basic home insurance policies do not cover possessions lost or damaged by floods, earthquakes or negligence. While burst pipes can be covered under home insurance, they will not be covered if the pipes have not been maintained or the incident occurs as a result of a flood. Floods and earthquakes may be covered under additional policies depending on your insurance provider and where you live.
Does Home Insurance Cover Items Away from Home?
Say you accidentally leave your laptop in your car and it’s stolen overnight. Even though the laptop wasn’t in the home at the time of the loss, home insurance can still provide compensation to replace the laptop.
If you’re not sure if your personal possessions are covered under your home insurance policy, be sure to speak with an insurance agent and review your policy. It’s better to be safe than to have a claim unexpectedly denied because you didn’t have the coverage you thought the policy provided.
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