Surprise! 10 Risks Your Homeowners Insurance May Not Cover

Think you know what your home insurance policy covers? You may be surprised to learn of some risks that often aren’t covered.

Several insurance experts helped us create a list of potential claims that people often assume are covered — but aren’t.

Their advice for homeowners: Read your policy carefully and pay special attention to the sections that list exclusions. If you still have questions, ask your insurance agent.

Trampolines

Few insurance companies in Florida or the nation will cover trampolines, said Paul Mack, president of Mack, Mack & Waltz insurance agency in Deerfield Beach. Owning a trampoline may even disqualify you from getting property insurance from some companies. Trampolines caused 92,159 injuries that required emergency room treatment in 2010, according to the Consumer Product Safety Commission. Insurance companies know that and are not interested in covering those injuries.

Failing to tell your insurance company about your trampoline won’t help. “An insurance company can deny coverage or cancel your policy if you do not follow the policy safety guidelines or do not inform the company when you install a pool or purchase a trampoline,” according to a consumer guide from the National Association of Insurance Commissioners.

Screened pool enclosures

Some insurers decided they were too risky after Hurricane Wilma blew over scores of enclosures. Other insurers make the decision based on how strong the screen enclosure is and how it’s anchored to the house, said Lynne McChristian, a spokeswoman for the Insurance Information Institute, an insurance research and trade group. “Connections with thicker angles, larger screws, screen attachment extrusions and staggered angles work best,” McChristian wrote in an email, citing a 2011 Florida Catastrophic Storm Risk Management Center report.

Screened pool enclosures account for “10.3 percent of the entire home value, according to a recent study, and they fail often in high winds and are a source of wind-borne debris,” she said.

Pools without fences

Without a fence — or cage, in insurance terms — pools are ineligible for insurance coverage and, more importantly, violate state law. Nearly 300 children under age 5 drown in pools and spas every year, according to the safety commission.

Pool diving boards and slides

Insurance companies often won’t cover liability risks from diving boards and slides on pools, Mack said. In fact, a diving board or slide may disqualify your house for a policy from some insurers.

Aggressive dogs

Here’s another reason to check the liability portion of your coverage. Florida-based insurers often exclude coverage for bites and other accidents caused by dogs considered “high-risk,” such as pit bulls, Mack said. Oddly, you may be paying for dog liability coverage even if you don’t have one, Mack said. A few insurers add liability coverage for dogs automatically.

Dogs bite 4.7 million people a year and cause 800,000 injuries, according to the Centers for Disease Control and Prevention. If your dog ever bites someone, “there is an increased risk. The insurer may charge a higher premium or exclude the dog from coverage altogether,” McChristian said.

Cash

Most policies don’t cover money lying around the house or stored in a home safe, according to Pasquale “Pat” Cuccaro, president of the Florida Association of Public Insurance Adjusters, which represents insurance claims adjusters hired by policyholders.

Source: Sun-Sentinel