At Henry Insurance, we believe that knowledge is power, especially when it comes to protecting your home and belongings. Your home is likely the biggest investment that you’ll ever make, and home insurance is an essential tool to safeguard it. A standard policy insures the home itself and the things you keep in it. And, homeowners insurance provides financial protection against most disasters. But, many homeowners don’t understand what’s not covered.
Our team at Henry Insurance aims to review several commonly overlooked exclusions that can leave you vulnerable when disaster strikes. We want to equip you with the information necessary to maintain adequate coverage for your needs so you can have peace of mind. Let’s review some major areas where homeowners may find significant gaps in their insurance policies.
Hurricanes
Louisiana is no stranger to natural disasters, but many homeowners are often shocked to discover that standard home insurance policies do not cover certain events like floods and all storm-related damages. After witnessing the recent destruction caused by Hurricanes Helene and Milton, it’s clear that homeowners across Louisiana must be prepared for severe weather events.
While many Louisiana residents assume they are covered for hurricane damage, the reality is that policies vary widely depending on the location. In coastal areas, homeowners might face higher deductibles or even exclusions from wind damage. Similarly, hailstorms are another common cause of storm wreckage, damaging vehicles and roofs. So, it’s important to note that with standard policies, these events may not be fully covered.
At Henry Insurance, we advise our clients to carefully review their policies and consult with us to ensure they have adequate protection against these common natural disasters. Our goal is to make sure that you can overcome loss with the support of strong financial protection in recovery.
Flood Insurance
Whether you have a home in Baton Rouge, New Orleans, or another area in South Louisiana, flooding is a significant risk. Standard home insurance policies generally exclude flood damage. If a pipe under your sink bursts and covers the kitchen floor with water, you can typically still make claims to receive coverage.
But, if your home is affected by rising waters from an external source – like heavy rainfall, storm surges, or overflowing rivers – you could face significant, out-of-pocket repair costs – making an already traumatic event all the more devastating.
In order to financially protect your home from flood-related risks, you need to obtain a separate flood insurance policy through the National Flood Insurance Program (NFIP) or through private insurers (like Henry). Your home’s location within the flood map will inform how much coverage you need.
Flood insurance may cover the structure of your home and some personal belongings, but it’s crucial to understand exactly what contents would be covered in the event of a flood, and sometimes this may call for additional coverage.
Home Renovations
When we discussed Essential Tips for Every Policyholder, we emphasized how important it is for policyholders to take an active role. You’re in the driver’s seat, and you have the power to make sure that your insurance works for you. Prevention and preparation is the best way to avoid pitfalls down the line.
Many homeowners invest in costly renovations to improve the value of their home and their standard of living, yet they don’t realize the insurance updates required to cover the new value of their renovations. For example, if you remodel your kitchen with new appliances and marble countertops, then you have to share these changes with your insurance agent to ensure coverage. If the kitchen were damaged in a fire or a flood, insurance does not automatically cover the new value of the kitchen. And, you could be stuck with massive bills in repair costs.
Protect Your Home with Henry Insurance
We recognize that when it comes to protecting your individual assets, one size does not fit all. At Henry Insurance, we represent numerous leading insurance companies, and those alliances – along with our dedicated and experienced staff – enable us to build an insurance program to fit your individual needs and allow you to make informed and cost-effective insurance decisions.
Ask your agent to talk about what is covered and be sure to read your policy so you know exactly what’s included and what is not. Reach out to an agent at Henry Insurance to learn more and get your questions answered today.
