Having handled thousands of personal injury claims in the last 30+ years involving homeowners policies, I have seen an alarming trend in the past few years.
Many homeowners have policies with insurance companies nobody would have had 10 years ago. Most people have found that with these companies they pay much more for much less coverage. Some have found (usually when it’s too late) that they don’t have the coverage under their policy that they thought they had or ever used to have.
One area of coverage that has disappeared in most policies is animal liability coverage. If you own any type of animal and it injures anyone on your property, you are S/O/L without this important coverage. Some policies’ coverage places a weight limit on animal coverage (ie: 25 lbs). It would make no sense to have this exclusion on your policy if you own a 40 lb. dog.
Many have also found changes in water damage coverage, sinkhole/collapse coverage, and /ATV coverage. Don’t assume that every injury or problem that occurs in your home will be covered in your policy. Check with your agent to see what you have.
A recent article in the St. Lucie News Tribune underscores the problems local homeowners are facing in trying to buy peace of mind when purchasing homeowners coverage. Homeowner coverage is not one size fits all. You need to make sure you are paying for the right coverage for your specific needs. Don’t leave it up to an insurance agent to figure out what you need, or you may find out after it’s too late that one size fits all…was one size too small.
If you have questions about your homeowner’s insurance policy, please call my office at 772-464-4600.
