Utah Home Insurance You Can Rely On

No, typical homeowners exclusions include:

• Ordinance or law, such as demolition or construction required to bring your house up to code.
• Earth movement, such as earthquakes, shockwaves, sinkholes, landslides, and mudflows.
• Water damage, such as floods, sewer back-ups, and water that seeps through the foundation.
• Power failure.
• Neglect, meaning you failed to take reasonable means to save your property during or after a loss.
• War, including undeclared war and civil war.
• Nuclear hazard. 
• Intentional loss, meaning something you did on purpose with the intent to cause a loss.
• Governmental action, such as the destruction, confiscation, or seizure of covered property by any governmental or public authority.
• Loss to property, resulting from faulty zoning, bad repair or workmanship, faulty construction materials, and defective maintenance.

Some of these additional coverages can be purchased or endorsed onto the policy, such as: ordinance or law, earth movement, water damage, and power failure.

Homeowners insurance provides coverage for a range of risks and perils that you may face as a homeowner that otherwise can be financially challenging to cover out of pocket. These include:

Property Damage: Damage and destruction to your residence and/or detached structures. You will receive compensation, up to the limits of your policy, if your house or storage shed is damaged due to a covered hazard. Standard covered circumstances include things like fire and vandalism, but other hazards such as earthquakes and floods are excluded. Be sure to check your homeowners policy for exclusions.

Personal Property Loss: Damage or theft of personal property, up to your policy limits for covered circumstances, which typically excludes flooding, earthquakes, and personal negligence. If your personal property is very valuable (such as collectibles or antiques), you’ll likely need additional “riders” or special endorsements on your policy. Be sure to talk with our knowledgeable agents about your personal belongings and valuables as standard limits may not be adequate to cover a major loss.

Personal Liability: If you, your family member, or even your pet causes an accident, injury, or property damage, your homeowners insurance can protect you. Whether the issue requires medical care or repair of property, you will typically have coverage up to your liability limits. There are exclusions, such as aggressive acts against a neighbor, so it is important to fully understand your liability coverage. Be sure to talk with an agent about how to choose adequate policy limits that protect your finances in the event of a lawsuit.

Added Living Costs: If your house is uninhabitable, your homeowners insurance can pay for alternative living arrangements while your home is repaired or rebuilt. Depending on your homeowners insurance company and the specifics of your policy, this may be included or may be optional coverage. You will typically have daily and total overall limits for this coverage.

If you own a condo or a townhome, there is typically a master policy that covers the exterior or your unit. Check with your association to determine which type of policy you should obtain. Even if your association has a master policy, you will typically want to purchase your own policy that covers your own personal property and your personal liability as these coverages are not included on the master policy.

If you are building a new home, you should consider getting a course of construction or builder’s risk policy. A COC/builder’s risk policy covers the property that is under construction, along with the materials and supplies needed to complete the home. If damage to the property occurs during construction or if supplies and materials are stolen or ruined, your policy will cover these costs. It protects against unforeseen circumstances such as fire, explosions, vandalism, storms, collapse, theft, vehicle impacts, and more.

Renters insurance coverage protects you and your personal belongings when the worst happens. While you may only be renting your apartment or house, chances are you own most of the stuff in it. While your landlord’s insurance policy on the home typically covers the building structure itself, protecting your valuables comes down to you.