Don’t Overlook These Common Home Insurance Gaps

Home insurance can be essential for protecting your most valuable asset, but many homeowners in California may not realize that their policies could have significant gaps. Understanding these gaps can help ensure you have comprehensive coverage when you need it most.

Common Home Insurance Gaps and How to Bridge Them

The following are common gaps in homeowners insurance:

• Earthquake coverage—California is known for its seismic activity, yet standard home insurance policies typically do not cover earthquake damage. Homeowners should consider purchasing a separate earthquake insurance policy to protect against potential losses from earthquakes. This coverage can help with repairs, rebuilding and temporary living expenses.

• Flood insurance—Flooding can occur due to heavy rains, overflowing rivers or even broken water mains. Standard home insurance policies usually exclude flood damage, so homeowners in flood-prone areas should invest in a separate flood insurance policy.

• Wildfire coverage—While most home insurance policies cover fire damage, there can be limitations. It’s crucial to review your policy to help ensure it provides adequate coverage for wildfires, including the cost of rebuilding and replacing personal belongings. Some insurers may also offer additional endorsements for enhanced protection.

• Personal property limits—Standard policies often limit coverage for personal property, especially high-value items like jewelry, electronics and art. Homeowners should consider purchasing additional coverage or endorsements to protect these valuable possessions adequately.

• Liability coverage—Liability coverage can financially protect you if someone is injured on your property or if you accidentally cause damage to someone else’s property. Ensure your policy has sufficient liability limits to cover potential legal and medical expenses. Umbrella insurance can provide extra liability protection beyond the standard policy limits.

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By addressing these common home insurance gaps, California homeowners can achieve greater peace of mind knowing they are better protected against the unique risks they face. Reviewing and updating your insurance policy with your agent regularly can help ensure you have the coverage you need. Contact SaveGuard Insurance to review your insurance portfolio today.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.