Am I covered for a mudslide?
Landslides, mudslides and sink holes are generally NOT covered by a homeowner’s policy. They are likely not covered by an earthquake or flood policy either. If you feel you need this kind of coverage, contact your agent or an advocate at Bamboo for a special type of policy that might cover all perils.
Am I covered for water damage?
Most homeowner’s insurance policies help cover water damage inside the home if the cause is sudden and accidental. That means it would likely cover the cost to repair your ceiling or floor if a pipe bursts.
Note 1: Homeowner’s insurance usually does not cover a slow leak that might be dripping for years behind your refrigerator or in your attic. It is not a replacement for general ‘wear and tear’ on your home, but rather sudden and accidental perils.
Note 2: Homeowner’s insurance generally covers pipes in your home. It does NOT cover the pipes outside of your home that connect to the main water line in the street. If a pipe bursts there, you might need to pay to have someone dig up your front yard to repair the problem. If you would love coverage for this type of issue, ask your agent or Bamboo about ‘Service Line’ coverage.
Am I covered if my dog bites someone?
Maybe. To cover the cost of treating a dog bite, if for example your dog bites a neighbor, you would need to carry something called ‘animal liability’ coverage. This type of coverage may be included in a homeowner’s policy or may be available for additional cost. There may be no coverage for certain vicious breeds of dog, however, so please read your policy carefully.
Am I covered if someone slips & falls in/near my home?
Most slip and fall accidents will be covered, except where the homeowner acted intentionally to cause the slip and fall. If a homeowner’s negligence causes the fall, such as having unmarked obstacles on the property, liability coverage may apply. If there is no negligence, no-fault medical coverage may apply.
Are contractors or employees working in my home covered?
Maybe. Depending on the state and circumstances, a contractor injured on your property may be covered by a homeowner’s liability insurance in coordination with state workers compensation insurance coverage. Homeowner’s insurance will not cover other scenarios with contractors such as poor workmanship.
Do I have coverage for my ‘stuff’?
A homeowner’s policy provides different types of coverage for your belongings depending on the type and category of the item.
- Unscheduled personal property refers to your belongings in aggregate. Coverage is generally listed as a % of Coverage A (i.e., 50%). If you lost your home to a house fire, for example, you would need to replace everything: furniture, fixtures, bedding, clothing, etc.
- Scheduled personal property refers to types of goods that have separate sub-limits of coverage. Firearms, cash, photography equipment, computer equipment and jewelry all have set sub-limits in a standard homeowner’s policy, such as $5,000 per category. If you have an item worth more than the limit, such as an engagement ring valued at $15,000, you can usually purchase additional coverage for it by providing proof of purchase or an appraisal. If you have a special collection, please discuss with your agent or an advocate at Bamboo to ensure that you are covered.
Am I covered if there is a wildfire?
Homeowners insurance MAY help cover damage to your home and belongings resulting from a wildfire. Given the high risk of wildfires in some areas, some insurance carriers may not be able to offer coverage for fire. In this case they may offer you a separate policy through the state. Check your policy carefully confirm that you have the coverage you need.
What is DIC or a Fair Plan? Why do I need 2 homeowners policies?
If your home is located in an area with a high risk of wildfire, you may need two insurance policies – one that covers fire and one that covers other perils such as theft, water damage and liability. Together these two policies should provide complementary coverage against most perils covered in a standard homeowner’s policy.
- Policy 1: The state of California has a FAIR (Fair Access to Insurance Requirements) program to provide fire insurance to homeowners who have trouble getting coverage from insurance companies. It will cover fire, but not other perils like theft, water damage or liability.
- Policy 2: If you have a FAIR plan policy to cover fire, your insurance company can offer you a DIC (Difference in Conditions) policy that covers perils that are not covered in the FAIR plan. This includes coverage for perils such as theft, water damage and liability.
Am I covered for falling trees?
Homeowner’s insurance typically covers the costs of removing the tree or shrub that fell on an insured structure. If a fallen tree does not damage your home or other structures but blocks a driveway or ramp for the disabled, insurance may pay to have it removed.
Alphabet soup - What types of insurance policies are these?
HO-3 – a standard homeowner’s policy
HO-4 – renter’s insurance to protects the belongings of someone renting a home or apartment; the owner of the unit would need a separate landlord insurance policy to protect the structure
HO-5 – a homeowner’s policy with broader coverage for additional perils
HO-6 – insurance for someone who owns a condominium; the condo association will likely have coverage to protect the building and its common areas
DP-1 – insurance for the owner (landlord) of a property that may be vacant
DP-3 – insurance for the owner (landlord) for a property that is occupied by a tenant
Is there coverage for my swimming pool, hot tub or trampoline?
Pools, water slides, hot tubs and trampolines can be considered an ‘attractive nuisance’ because small children may be attracted them but risk getting hurt or drowning. As such, most insurance companies require that pools and hot tubs be fenced. Ask your agent if your homeowner’s policy covers liability related to your pool, hot tub, water slide or trampoline.
Is there coverage if I rent out my house (Airbnb, etc.)?
Most standard homeowner’s insurance policies exclude short-term rentals. The owner of the home therefore requires special insurance to cover the dwelling during such rental periods. Contact an agent or the rental service for coverage options.
What is Equipment Breakdown coverage?
Equipment breakdown is an optional coverage that may help pay for the costs of repairing or replacing damaged or broken equipment after a covered incident. For example, if a power surge fried the computer equipment that manages your ‘smart home,’ this coverage may cover the cost of new equipment and programming. It may also cover your electronic equipment off premises. It does not cover wear and tear, however.
What is Service Line coverage?
Service line is an optional coverage for damage to service lines outside your house but still on your property. These include phone lines, cable wiring, water, and sewer pipes outside of your house to the connections at the street or power pole. It covers the potentially costly expenses of excavation and repair of underground wiring and piping.
What is inflation guard?
Inflation guard automatically increases your coverage by 4% each year to keep up with the cost of inflation. The cost of the labor and materials increase each year, driving up the total cost to rebuild your home. This feature increases your coverage A so you have additional protection.
A peril is the cause of a loss. Many types of insurance will provide coverage for named perils. With named peril coverage, your policy helps pay to repair or replace your belongings only if they are damaged by the perils that are specifically listed in your policy. If the peril is not listed, it is not covered. For example, a standard homeowner’s policy (H0-3) generally covers these 16 named perils:
- Fire and smoke
- Lightning strikes
- Windstorms and hail
- Vandalism and malicious mischief
- Damage from an aircraft, car, or vehicle
- Falling objects
- Weight of ice, snow, or sleet
- Water damage
If you have this type of policy and a burglar steals your camera and wedding ring, it would likely be covered by the policy.
Perils that are not on this list would NOT be covered under this policy. For example, if you lost your camera and wedding on vacation, it would be treated as ‘disappearance’ rather than theft. It would not be covered under an HO-3 policy but would likely be covered under an HO-5 ‘all perils’ policy. If you have questions on the coverage you need, please ask an agent or an advocate at Bamboo.