It pays not to take for granted that everything is automatically covered once you buy your home insurance. NY home policies may have a number of exclusions and it’s better to know what they are and take out extra coverage if you feel you need it, rather than assume you’re covered and find out you’re not when you make a claim. You should take the time to read carefully through your policy – including all the fine print.

There are a number of common exclusions that you should be aware of:

• Floods – flood coverage needs to be purchased separately. It’s worth being aware that often the majority of damage experienced from a hurricane is from resultant flooding.
• Natural disaster coverage – hurricanes and earthquakes are not automatically covered and generally need separate policies. 
• High ticket unique items like valuable jewelry, antiques or original artworks may exceed the category or item limits of your policy. You may need to list them separately or see if you can increase the limits.
• Equipment used for a home-based business may also exceed your payout limit and in the event that you have specialized equipment, it might not be covered at all under your home policy. You should look into a business insurance policy if you are running a business from home and have significant business assets in your house.

The best thing is to call and have a chat about your home insurance. NY agents at our office will be able to give you up to date information and help you ensure that you have the most appropriate insurance for your home and valuables.

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