Property Insurance Coverage Exceptions Explained

by Ashish Kumar Consultants

Most basic home insurance plans do not cover against every contingency or possible source of damage to one's home. Virginia property insurance plans are offered a-la-carte, allowing homeowners to protect from the dangers that are most prevalent where they live. However, knowing the difference between what is covered and what is optional makes all the difference when a disaster occurs.

Basic Virginia property insurance plans cover eleven types of disasters. The entire list, which every homeowner should know, is fire, lightning, smoke, vandalism, theft, ice, snow, windstorm, hail, and riot and volcano eruption. While the list does look exhaustive, there are many special cases that are not covered. Extra options that are added onto basic packages include damage from frozen plumbing or loss on account of heating system failures.
When deciding on the level of home insurance coverage, these popular options Flood Insurance: The largest ticket that is not a part of most packages is flood insurance. Despite common belief, flood and water damage is not covered under basic home insurance. Homeowners in well identified or sell-evident flood prone areas are usually the only ones to purchase the coverage. For example, every homeowner that has Virginia Beach home insurance will also has flood insurance for tidal surges and heavy storms.

Now, many homeowners do not think that their homes lie in a flood prone area if they do not live near the ocean, a lake, or on a river. However, even low-lying ground in high elevations can flood when heavy rainfall occurs, especially over a short period of time. Localized flooding is a concern in nearly every part of the country. Broken water mains, failed dams, or breeched levees can all cause flooding. Even if an area has been free of heavy water damage for years that is no guarantee that the situation will stay the same way.

Home Liability Insurance: Virginia property insurance policies include a provision for liability coverage, which protects the owners and their guests as well as anyone else on the property in case of injury. However, the limits on the basic liability term are often inadequate. When considering an accident that occurs on someone's property, liability insurance has to cover medical costs, legal fees, and any home repairs. These costs can quickly escalate in the case of debilitating injuries, multiple injured people, or even death.

Purchasing additional Virginia property insurance is very inexpensive and will offer a great degree of security. Any household with a pool, trampoline, outdoor animals, or anything that can be a potential hazard should invest in this additional insurance.