Common Home Insurance Exclusions

Do you know that your home insurance has exclusions and limitations? If yes, do you know the specific exclusions? What isn’t covered by your home insurance is usually indicated in your policy document. Unfortunately, most homeowners don’t read the fine print — they only learn about the exclusions when disasters have already happened. So, to be on the safe side, it’s essential to understand what isn’t covered by your home insurance policy to avoid heartaches during the claim process. Stonewall Grace Insurance of Buena Vista, VA is here to explain common home insurance exclusions.

Floods

Floods may be the most common natural disaster in the US, but the unfortunate thing is that flood damage isn’t covered by standard home insurance. However, all is not lost because you can purchase stand-alone flood insurance from private insurers or the National Flood Insurance Program (NFIP) to protect your home against floods.

Earth movements

Typical home insurance doesn’t cover earthquakes, sinkholes, and other earth movements. However, like flood insurance, you can get "a rider" or " endorsement" to cover such damages.

Wear and tear

Your dwelling will certainly suffer normal wear and tear as the clocks ticks. Since this risk is certain to occur, it isn’t covered by home insurance. The good thing is that you can slow or stop your home’s gradual wear and tear through proper maintenance.

Pest or mold infestation

If your home is damaged by mold or pest infestation, any claim you make is likely to be ignored by your insurer. Your insurance expects you to carry out scheduled maintenance practices to keep mold and pests away from your home, like wear and tear.

Learn more about home insurance

If you want more insights about home insurance, don’t shy off from talking to your preferred insurance agent in Buena Vista, VA. At Stonewall Grace Insurance, we have a team of knowledgeable agents to keep you on tabs on all matters regarding home insurance.

What ISN’T Covered Under Homeowner’s Insurance?

Although homeowner’s insurance can cover many things, homeowners should be aware of what’s not covered. Many natural disasters, as well as damage to your home caused by wear and tear and neglect, aren’t covered under homeowner’s insurance. However, it’s best to contact a Buena Vista, VA insurance representative from Stonewall Grace Insurance to answer any questions you may have regarding what’s not covered. Our team is standing by to answer any questions you may have. 

Natural Disasters
Homeowner’s insurance doesn’t cover floods, earthquakes, sinkholes, and earth movements. Also, depending on where you’re located, there may be other natural disasters that may not be covered as well. 

Normal Wear and Tear
Normal wear and tear, as well as the neglect of your home that results in rust, rot, and mold, is not covered under a homeowner’s insurance policy. Termites, as well as insect and rodent damage, are also not covered under a homeowner’s policy. Generally speaking, any damage or deterioration to your property that resulted from time, use, neglect, and lack of upkeep isn’t covered under your policy.

Other Exclusions…
Acts of war, government actions like seizure and eminent domain, and nuclear incidents aren’t covered as well. Homeowners should also note that any business in a separate structure located on your property isn’t covered under your homeowner’s insurance policy. Consult with an insurance agent to determine what type of insurance you would need to purchase to cover a business structure on your personal property. 
 
As a homeowner, you should familiarize yourself with your homeowner’s policy. There are many things that are covered under a standard homeowners policy. However, many things aren’t. What’s covered may even vary based on your location. There may be additional natural disasters, unique to your area, that aren’t covered under your homeowner’s policy. However, reach out to a team member from Stonewall Grace Insurance to answer specific questions regarding what’s not covered. We’re standing by.

Will Home Insurance Cover Tree Removal?

Tree removal can be a tricky subject when it comes to home insurance in Buena Vista, VA. Here’s what makes it sort of complicated: If you buy a home insurance policy through Stonewall Grace Insurance, or any agency, your insurance provider covers your home, they cover much of the property you have on the plot of land on which your home sits.

But, they don’t cover the land itself, and they don’t cover trees, bushes, and shrubs on the land.

So it essentially breaks down like this:

  • If a tree falls onto your home, then removing the tree will be considered to be part of the covered damages. After all, the repair crew can’t get to your roof to fix it until they pull the tree off of your house.
  • If a tree simply falls over after a storm and lands on your lawn, it might not have damaged any covered property. It may have broken an underground pipe, but that’s typically going to be an expense for the city to worry about.

Essentially, if you get lucky and the tree doesn’t hit anything, then it’s not your insurer’s problem.

Here’s the good news: There are plenty of people who would be willing to remove the tree for free if they can keep the firewood. So ask around before you call a cleanup crew.

If you have any questions about home insurance in Buena Vista, VA, or if you’re looking to get covered, go ahead and call Stonewall Grace Insurance, or get in touch through the Stonewall Grace Insurance website to see about getting a good deal on a great home insurance policy.

What isn’t covered by home insurance

When you own a home, protecting it from all the hazards out there is something that is on your mind. Most people aren’t insurance experts and that is why they have to count on an insurance agent to provide the best information and access to a wide variety of products. At Stonewall Grace Insurance in Buena Vista, VA, our customers come first and we are happy to share our years of experience.

Floods

Most people are shocked to realize that floods are not covered by home insurance but it isn’t. If you live in an area that is prone to flooding you should consider purchasing a flood insurance policy. It is easy and inexpensive. 

Moving earth

Moving earth covers a few different types of hazards. It includes earthquakes, mudslides, and sinkholes. All of these can be covered with the addition of an endorsement or a separate insurance policy. 

Negligence

It is reasonable for the insurance company to expect that you will maintain your house and if you know there is a potential hazard you will correct the situation. Negligence is handled on a case by case but chances are if they can prove negligence the company isn’t going to pay. 

Expensive items

If you have lots of expensive jewelry, works of art, antiques, or expensive electronics you will not be covered on a normal home insurance policy. You can get coverage for these items but it will need to be an endorsement that you add. 

When you are looking for an insurance agent you can trust to put your interests first, Stonewall Grace Insurance in Buena Vista, VA is the place to come. We have a team that will be there for you when you need us. Give us a call or stop by to set up an appointment for a free quote. 

Can You Change Your Home Insurance Provider Mid-Policy?

There are many things to consider when shopping for home insurance. In some instances, you may make a purchase initially that you feel fits your current needs, only to have a change of mind during the effective term of the policy. 

Home Insurance Changes

If you have home insurance currently in place and change your mind about your provider mid-term, you have options. First, find the type of coverage that fits your needs and make sure that it is in place before canceling your other policy. Once the new coverage is in effect, cancel the policy and work with an agent to make the process smoother and to have someone to answer your questions along the way.

Ideal Home Coverage

In order to protect your investment, you need ideal home insurance in place to prevent gaps and losses if there is a covered event. Never leave your home without insurance coverage, even if it’s just for a few days. You should also seek the assistance of a knowledgeable insurance agency like Stonewall Grace Insurance, serving the residents of Buena Vista, VA. They have the insight and experience to help homeowners navigate the sometimes complex world of home insurance coverage. They are ready to help before, during, and after the purchase to provide comprehensive protection and peace of mind for their customers. 

Anyone who is currently shopping for new, better home insurance coverage are encouraged to call or stop by Stonewall Grace Insurance, serving the residents of Buena Vista, VA and speak with one of their friendly agents. They can offer solutions to current home insurance issues and help sort through policy options to get the protection that works best for your situation. 

How You Can Protect Your Home in Virginia with Insurance

Purchasing a home in the Buena Vista, VA area can be a great long term financial decision. When you do purchase a home, it is important that you have it properly covered by insurance at all times. The main reason why you need insurance is that it can help to protect you and your property in many different ways. 

Protect Against Casualty

One way that you can protect your home in the Buena Vista VA area with home insurance is by protecting against casualties. No matter where you live, there is always a risk that bad weather, fire or other natural disasters could damage your property. If this occurs, you will be protected if you have a home insurance policy as it will provide you with protection to rebuild, repair or even replace your property. 

Protect Against Bad Acts

While some issues that can damage a property are created by natural disasters, there is also the risk that you could suffer a loss due to the bad behavior of some other party. Being victimized by theft or vandalism can be a scary and frustrating situation. At the same time, it can also lead to a financial loss to make repairs or any replacements. With your home insurance policy, you can receive protection against theft and vandalism for both the property and your personal belongings.

Ultimately, having home insurance on your property is a necessity. When you are shopping for a new home in Virginia, you should contact the team at Stonewall Grace Insurance. When you speak with the team at Stonewall Grace Insurance, you will learn more about how home insurance can protect you and your property. The team can then get you into a policy that provides you with the right protection. 

Is My Home Underinsured?

If you wonder if your home might be underinsured, it probably is. Estimates are that up to two-thirds of American homes are either not insured or underinsured. Many homeowners are completely unaware of the risk and do not know how easy it is to do something about this problem.

To find out if you are underinsured you can simply call an agent at Stonewall Grace Insurance serving Buena Vista, VA, and the nearby communities. Have your agent conduct an insurance review. Help by collecting the data needed about the contents of your home and its measurements so that an accurate calculation can be made to determine the total replacement cost.

Why is replacement-cost insurance a good idea?

There are a few ways to value a home based on different accounting techniques.

There is the book value of the home, which is the purchase price less the depreciation that has been taken since buying it. Deducting depreciation makes the value of the home go down over time (for tax purposes) when the real value actually is probably going up.

There is the actual value that the home could sell for on the open market. Then, there is the replacement value. Replacement value, if calculated correctly at current prices, is always the higher valuation of these three methods.

Insuring a home for replacement value allows a person who lost their entire house to more easily get back to the same lifestyle and quality level of what was lost.

Adjusting for Inflation

To have adequate home insurance, it is important to adjust for inflation. This calculation takes into consideration the average percentage cost that prices go up.

Loss of Use

Loss of use is when your home is damaged so badly that it is not possible to live in it during the time when it is being repaired or rebuilt. This insurance is in addition to the amount needed to rebuild the home. It covers the expenses you have living somewhere else while the reconstruction is underway.

Summary

Work with your agent at Stonewall Grace Insurance in Buena Vista, VA. Call (866) 446-5056 to get a home insurance quote. Get home insurance for replacement value that is adjustable each year for inflation and has coverage for loss of use. When you do this, you will be in the group of one-third of all American homeowners that have their home adequately insured.

Does Homeowners Insurance Cover Electrical Fires?

Homeowners insurance is designed to cover a variety of mishaps that can happen to a home such as wind or hail damage and lightning strikes to name a few. But does it cover electrical fires? In some cases, yes, it will while it won’t in others. Electrical fires have multiple causes and they have to be investigated to find out the cause and if it’s covered by the policy. If the cause is something that isn’t covered by the policy, a homeowner winds up paying out of their own pocket to repair the damage, if possible.

The methods used for wiring homes has changed greatly over the decades along with materials. Not every home has been upgraded properly through the years, resulting in a home that has wiring that’s out of code. One type of wiring setup known as knob and tube may or may not be covered by a policy. The risks of an electrical fire from this type of setup are well-known and the wiring should have been replaced at some point. However, because this kind of wiring was in common use up until the 1950’s, many homes still have it in their walls simply because there was never a need to replace it. 

Aluminum wiring rose in popularity as the drawbacks to the knob and tube wiring became apparent. It weighs less than copper while transmitting the same amount of electricity, making it an attractive alternative. However, connections in older aluminum wiring systems are known to corrode and cause a fire if not caught in time. A homeowners policy may exclude this type of wiring from coverage as well.

Contact Stonewall Grace Insurance to find out about getting a policy that covers electrical fires and other unusual situations. The agency serves the Buena Vista, VA, area and can help homeowners who have older wiring systems find a policy to suit their needs. 

A typical home insurance claims process.

Home insurance claim process can be one cumbersome process especially if you do not have the knowledge about it. Understanding the established procedures that insurance companies follow during the claim process gives you a better chance to recover your money in a practical time frame.

A typical home insurance claims process includes:

Report of claim
After assessing the cost of damage to your home and property and getting an estimate of the cost of repairs and replacements, then it’s time to submit your claim either online or directly to your agent to claim for the services.

Assignment
On receipt of your claim, the insurance company assigns a claims professional to your claim. The assigned agent will be responsible for navigating the required processes.

Initial contact
Tasked with the responsibility of assisting you with the claim process, the claims professional will get in touch with you to get to know about your loss and discuss your insurance coverage. He’ll then outline how the company plans to handle your claim. At this point, it is important to take note of the advice that the agent will offer you on ways to prevent more damage.

Evaluation
After getting to know your loss and discussing your insurance coverage, the claims professional will investigate your claim, assembling facts, reviewing and estimating the damage. If need be, he/she can also consult witnesses.

Resolution
When the claims officer is done with the evaluation, the insurance company will make a verdict concerning your claim. For simpler claims, you can get paid the estimated amount of repairs after the first inspection but in more complicated claims the payment process may take longer.

Closing the claim
This is the last process of a typical claim process after the claim is resolved by the insurance company.
At Stonewall Grace Insurance in Buena Vista, VA, our professional claims officers will endeavor to expedite any insurance claims filed by our clients. Feel free to contact us for a smooth process.

Does Home Insurance Cover Additional Structures?

Almost everyone knows that homeowner’s need homeowners’ insurance. But how much do you know about what it covers and if it covers additional structures on the property?

Additional Structures

If you have a shed or addition to your property it is important to let your insurance agent know that you would like to carry coverage on those structures. If you do not specify, you may be left unprotected. This is especially important for additions that are connected to the main home. Regular homeowners’ insurance will protect the main structure, but you can add additional coverage, or a rider, to most policies. Ask your agent what the best method to cover those additional structures will be, ad they can help guide you and get you the coverage you need.

Contents

If you have value in the additional buildings, you may not be able to cover the contents. The ability to cover contents is based on the insurance company and the limitation of the policy. If you need additional coverage, ask your agent if there are ways to cover the contents if your insurance doesn’t already cover them. For instance, if you have lawn equipment or tools in your shed, you will probably want to have some form of coverage to replace them if necessary. Many people forget to cover their valuable belongings in additional structures, which could prove to be costly. For more information about covering additional structures on your insurance policy, call or stop by Buena Vista, VA, Stonewall Grace Insurance.

Let the experienced insurance agents at Buena Vista, VA, Stonewall Grace Insurance get you the comprehensive coverage you need so you are not left vulnerable during a covered event.