Although the odds of any of these threats affecting your home are low, it is still important to know that they could happen. And most of the time, if and when they do, many home insurance policies will not cover the damage they can cause. If anything, take these threats as a time to re-evaluate your home insurance policy and make sure you’re covered.
- Sinkhole collapse. Coverage will vary plan to plan, depending upon whether your insurance company lumps it in with the general category of “earth movement,” so check with your agent.
- Mine subsidence. Mine subsidence isn’t covered by regular insurance; insurance for this must be obtained through a special program run by the state, at an average cost of around $250 per year.
- Flood. Although this one is fairly common, it is the most common calamity not covered by a standard policy, which many homeowners discover the hard way. Flood insurance can be purchased from most insurance agents, but it is underwritten by the federal government and provided in policies separate from your homeowners insurance.
- Stampeding animals. Most homeowners policies will cover damage to the dwelling cause by animals you don’t own or keep. But keep in mind; some policies distinguish between domestic animals and wild animals.
- Landslides. Most homeowners policies, even if endorsed with earthquake coverage, will not cover landslides.
- Volcanoes. Surprisingly, many homeowners policies will cover damage from volcanic eruptions. This coverage is usually limited, however, to damage caused by the material that comes out of a volcano, such as lava and ask.
- Meteors, comets and space debris. If the worry of your home being leveled by a meteor keeps you awake at night, you will be happily surprised to know that you’ll probably be covered. It’s rare for policies to specifically exclude this type of damage; it’s generally covered under the “falling objects” heading.
Information provided by MSN Real Estate.