Nuclear Accidents, Terrorism and War :
No matter how many New Jersey home insurance companies you shop around with, these are events that will never be covered by home owners insurance. Unfortunately, in the event that one of these situations does occur, you will simply have to face the costs without any help from insurance, as there are no ‘add on’ polices available to cover these circumstances.
Water Damage and Mold :
This is a situation that is covered by some New Jersey home insurance companies, but excluded by others. Five years ago, the damage caused by a burst water pipe, and the corresponding mold damage would have been covered. Now, it is important to check whether your policy will cover you in this type of situation.
Natural Disasters :
Fire, hurricanes, earthquakes and floods. Everyone hopes that they will never be affected by one of these events, but it is possible that you will be. It’s almost impossible to find a home insurance policy that will cover earthquakes and floods. Instead, if you live in an area prone to these types of events, you will need to take out separate coverage to cover these. If you live in a remote, bushy area, you may find that you’re not covered for fire damage in the event of a wildfire. Be sure to check your insurance policy for terms and conditions relating to this type of event to ensure that you are actually covered.
As crazy as it sounds, having a dog, and more specifically, a dog considered to be an ‘aggressive’ breed can exclude you from getting coverage, or raise your premiums by a staggering amount. If your dog has ever been involved in a biting incident, you are unlikely to find a home insurance company that will cover you at all. You can ask that your dog be excluded from the coverage, which means that in the event of any situation involving your dog, you will have to pay the costs yourself.