It’s important to secure the proper insurance for your property so that, in the event of an unforeseen circumstance, you may receive the reimbursement you need. Homeowners insurance is not a requirement under Cheraw, SC law, but your lender will usually require it until your balance is paid.
What Types of Hazards Does Homeowners Insurance Commonly Not Cover?
Flooding is a common occurrence that can be devastating to your foundation and frame, creating vast water damage and eroding the structural integrity of your home. This hazard is one that was covered in decades past, but that became too expensive for insurance companies to continue including.
There is now a national program that handles situations involving flooding, and your Ingram Insurance representative can help you obtain specific indemnification to protect against these events. Mudflow can also potentially fall under your flood insurance hazards.
Earthquakes are another peril that will need its own separate dedicated policy, particularly if you live within the state of California. This is categorized under the movement of the earth and can also extend to situations like sinkholes.
Residents of other states besides California can sometimes purchase an add-on or an endorsement, but it is nevertheless a coverage type that cannot be assumed to be part of a standard homeowners policy.
Other problems that are usually exempt are overflowing sewage systems or sump pumps and malfunctions that occur due to owner neglect. Rot and mold as well as insects and pests, chewed wires, termite infestations, and rusting are, likewise, often outside the scope of coverage.
Ingram Insurance Can Help You
We are specialized in providing superior insurance products and services to our clients, and we invite you to reach out to us by phone, internet or stop by the office to discuss your needs. Ingram Insurance serves those who live in and around Cheraw, SC.