Is Your Home Insured for Catastrophe?

Is Your Home Insured for Catastrophe?
Knowing what coverage you have and don't have will give you peace of mind and possibly save you from financial ruin. Shutterstock
Anne Johnson
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Insurance is meant to protect you from losses. So when you buy your home insurance policy, you think you’re safe from losses. But that, however, may not be the case. Many exclusions can leave you without insurance when you need it most.

What, then, are these exclusions? Knowing what coverage you have and don’t have should give you peace of mind, and possibly save you from financial ruin. There are several exclusions you need to know about and find coverage for, if necessary.

Assessing Your Homeowner’s Insurance Policy

It’s imperative you read through your insurance policy and find the exclusions. These are the perils and financial losses your policy won’t cover. A peril is an unpredictable event such as a wildfire or earthquake. One is usually covered, and the other is not.
Anne Johnson
Anne Johnson
Author
Anne Johnson was a commercial property & casualty insurance agent for nine years. She was also licensed in health and life insurance. Anne went on to own an advertising agency where she worked with businesses. She has been writing about personal finance for ten years.