Weekend Insurance Tip: Know What is Covered on Your Home Owners Insurance Policy

According to a recent NAIC (National Association of Insurance Commissioners) survey, home owners think they have more coverage than they actually do. Take for instance flood insurance. The NAIC survey found that 33 percent of U.S. home owners thought that they would have some coverage under their home owner insurance from damages do to a flood. Here are some additional findings:

NAIC 2007 Survey Findings:

• 68 percent think vehicles such as cars, boats and motorcycles stolen from or damaged on their property are covered

• 51 percent think damages from a break in the water line on their property supplying water to their home are covered

• 37 percent think damages due to a break in the sewer line on their property that connects to their municipal sewer system are covered

• 35 percent think damages from earthquakes are covered

• 34 percent think damages from mold are covered

• 31 percent think damages from termites or other infestation are covered

• 22 percent think pets stolen from or injured on their property are covered