Most homeowners assume their policy covers just about anything that could go wrong. In reality, a standard homeowners policy leaves out several important risks — and in South Jersey, a few of these gaps come up again and again. Here are five of the most common.
1. Flood damage
This is the big one. Flood is never covered by a standard homeowners policy — it requires a separate flood policy. And you do not have to live on the water to flood; a large share of claims come from outside high-risk zones.
2. Sewer and drain backup
When water backs up through your drains or sewer line, a standard policy usually will not pay. A relatively inexpensive endorsement can add this coverage back.
3. Full roof replacement on an older roof
Many policies settle aging roofs at actual cash value rather than full replacement cost, meaning you absorb the depreciation. It is worth confirming how your roof would be paid out.
4. High-value jewelry, art, and collectibles
Standard policies cap what they pay on valuables — often far below what a nice ring or watch is worth. Scheduling those items insures them for full value.
5. A business run out of your home
Business equipment, inventory, and liability are typically excluded or heavily limited. If you work from home, an endorsement or separate policy protects you.
The good news: every one of these gaps can be closed. If you are not sure where your policy stands, we are happy to review it with you — no pressure, just a straight answer.