Whether you have just purchased a home in the Dallas-Ft. Worth metro area or are a long-time homeowner, it pays to read every word of your homeowner’s insurance policy. There are certain situations in which you may need to bolster your coverage. Most companies provide protection in case of fire, storm damage, ice, theft, and vandalism, however you may be surprised to learn what many providers do not typically cover. At Team Nelson, our Flower Mound realtors want homeowners to be informed, so we thought we would inform you of what you may or may not be aware of with your homeowner’s insurance policy.
Have mice or termites? Most policies do not cover any damage your home may suffer because of these pests. Certain pests can cause substantial damage, so if you even suspect you have a problem, call a trusted exterminator before you see actual damage.
Mold is an unhealthy hazard. Some insurance providers provide limited coverage for mold damage, others don’t cover it at all. Mold is not only unsightly and damaging, it can make your family sick. If you discover you are not covered for mold and think you need coverage, you may want to consider buying a separate rider.
Earthquakes are an act of nature that most insurance providers do not cover. If you live in an area where the risk of earthquakes is higher, you may want to find out if your insurer offers a rider, or purchase a separate policy altogether.
Sinkholes are something we’ve learned more about in the news over the past couple of years, and Texas is a state where sinkholes are more common. Sinkholes may result in cracks in the foundation, floors, and walls, and because they are earth movements, would be protected against with earthquake coverage. Find out from your agent if you need earthquake coverage, or if the company provides coverage specifically for sinkholes.
Sewage back-up is a messy issue, but the damage to your home can be astronomical in terms of cost. If your agent doesn’t bring up this topic when you purchase your home insurance, bring it up yourself. This coverage will save you enormous headaches should the time ever come that you need it.
At Team Nelson, our top priority is helping homeowners protect their homes, no mater what may come upon you unexpectedly. Thinking of purchasing a Dallas-area home, or putting yours on the market? Give us a call today!
