How a Trampoline May Affect Your Homeowners Insurance Policy
Make sure that when you are buying insurance you are purchasing coverage that will protect you
In this case it was in her best interest to get rid of the trampoline. California is known as a litigious state, which is another reason you don't want to have a trampoline that is not insured.
How a Trampoline May Affect Your Homeowners Insurance Policy
How can you find out if your policy covers the liability of having a trampoline?
With most policies it is very easy to find out. If you look at your actual contract, at the front you will find the "contents". Look for the exclusions section of your policy and turn to that page.
Read down this list of exclusions and you will most likely see the trampoline listed there. It is a good idea to read this portion of your contract anyhow to see what other exclusions may apply to your policy. You may be surprised.
The best way to make sure that you are covered properly is to search for an agent who knows what they are talking about and are doing more than just quoting and selling insurance. Have your agent go over the contract with you and review any possible exclusions.
Many companies will exclude coverage that you not aware of just to make their rate look cheaper. Remember, with insurance, cheapest is usually not what you want. It is OK to search for a good value, but it's best to have a professional do it for you.
If you have assets to protect you should not be buying insurance online, or over the phone with an 800 company where you speak to someone different every time you call in, and you have no idea who you are really speaking with.
Buy from someone that you can hold accountable, this is why insurance agents carry errors and omissions coverage.
A trampoline is just one small example of why it is important to understand what your insurance actually covers. Why pay for insurance if you are not sure what you are getting?
Homeowners Insurance Policy Exclusions
When people get a new homeowners insurance policy, many of them make the mistake of assuming that it is all encompassing. It is not. There are always exclusions in a policy and knowing what these exclusions are can help you make sure that you get the extra coverage you need.
Below is a list of the most common homeowners insurance policy exclusions. Some you can buy extra coverage for, some you cannot.
- Earth movement. Mostly this involves damage to your home from an earthquake but it can also cover damage to the house by movement of ground due to flooding or mudflows. There are separate policies you can buy for this reason.
- Water damage. There are certain types of water damage that may be covered and certain types that will probably be excluded from standard homeowners policies. Water damage due to flooding or sewer back ups are rarely covered and separate policies need to be purchased for these.
- Law requirements. Usually, there is no coverage for changes to your home that are required by some state law or ordinance that states certain improvements or changes need to be made to your home. There are many of these that can come about and some of them can be very expensive.
- Nuclear war is not covered and you can't purchase insurance for it.
- Certain causes of loss for you personal items. There are many reasons why stuff gets damaged or lost. Make sure to check the specifics of your policy to see what is covered and what is not
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