When it comes to insurance, many people need to know what is and what is not covered. When speaking with our clients about what is and what is not covered, the best term we have found to describe what is usually covered is "Sudden Event."
These events occur without warning -- unforeseen, if you will. If you own a home or even rent, consider a water pipe bursting and dousing the floors, walls, furniture, etc. with a mound of water. In this circumstance, this would be defined as a sudden event, and there would be most likely be coverage under your home or renters coverage for the sudden damaged material.
With automobile insurance, we are all aware if you hit something (collide), that is a sudden event and can be repaired if you carry Collision insurance, and is subject to a deductible (your financial responsibility). Comprehensive losses examples are glass breakage, theft of a vehicle, fire or hitting an animal -- all these are considered covered losses if you carry Comprehensive insurance; you may also be subject to a deductible, depending on what occurred or what state the incident occurred.
Not Sudden Events
What is not a sudden event, is finding the result of a leaky ice maker line or leaky dishwasher line, resulting in damaged flooring, walls, and floor joists. While it is equally damaging, a leak is usually not covered, as the damage it causes, occurs over time. Another example is if you have extra "guests," such as racoons, bats, bedbugs, etc. These are not "sudden" events and though they are never welcome, your insurance coverage is not designed to cover these situations.
Insurance is designed to ensure you are put back 100% prior to the loss that happened -- compensated for the damage caused. This means if part of your roof was damaged, then insurance only pays for the part which was damaged. (This does not mean the entire roof will be replaced.)
How can you make sure you are covered? Most insurance companies offer endorsements for a nominal cost, which can add additional coverage to your plan. Examples of a few of those are: equipment breakdown, service line coverages, better roof replacements, and water back-up. With automobile insurance, roadside assistance or roadside service can be added and will help cover sudden events, such as needing a tow truck, 2 gallons of gasoline, change of tire, or even a locksmith--often without any out of pocket money at the time of service.
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To learn more, give me a call, speak with one of our amazing team members, or speak with your local insurance agent.