Home Insurance

Standard homeowners insurance includes both property and liability coverage.

In many scenarios, homeowners insurance does cover mold. However, that depends on what caused the mold in the first place. If you’ve had your house for a while and the investigation deems that the mold was caused by neglect, there’s a high chance that your claim will get rejected. If you’ve only moved in recently and found out there was mold somewhere inaccessible and unexpected, then it will most likely be covered.

This depends largely on the cause of the damage. If water damage comes from a broken pipe, a leaky air conditioner, or maybe even a flood, the insurance will cover it. However, water damage that stems from negligence will typically get rejected. Does homeowners insurance cover roof leaks? Although roof leaks are a common problem, the answer depends again on what caused one to happen. If the cause was sudden and unforeseen, like a storm, for instance, then it will be covered. However, if a lack of maintenance caused the leak, your insurance provider will likely reject your claims.

Plumbing can cause all sorts of problems and damages to a home, so it’s natural to think that home insurance will cover it. However, while most policies do cover plumbing-related problems, it still depends on the scenario. Most damages that come from “gradual damage,” damages that have built up over time due to neglect, will be rejected. On the other hand, broken or burst pipes and other sudden accidents will likely be covered.

Homeowners insurance covers fire damage, but the coverage limit depends on the nature of the incident, as well as the source of the fire. In fact, there’s a list of potential causes that are covered, the most common ones being faulty wiring and natural disasters.

While most insurance companies do cover against fire damage, you will find that wildfire coverage depends on your geographic location. Wildfire protection is rarely available in places where wildfires are common.

Although both policies were designed to protect your house and property assets, they have distinct differences. Home insurance will provide you with funds to restore your property to what it was before an accident or unforeseen event. Meanwhile, a home warranty works somewhat like a maintenance aid. For instance, if an appliance or system breaks down, a home warranty policy will provide you with full or partial discounts when repairing them. Interested in getting homeowners insurance for your beautiful home? Contact us today at Magnum Insurance!