Homeowners insurance is a crucial safeguard for one of the most significant investments most people will ever make—their home. It provides financial protection against a variety of risks that can cause damage to your property or result in liability for injuries to others. However, not all risks are covered under a standard homeowners insurance policy. Understanding the specific perils covered can help homeowners make informed decisions about their coverage and whether they need additional protection. Below, we delve into the 16 perils typically covered under a standard homeowners insurance policy, often referred to as an HO-3 policy, which is the most common type of homeowners insurance in the United States.

1. Fire and Smoke

Fire is one of the most devastating perils a homeowner can face. A standard homeowners policy covers damage caused by fire, including the destruction of the structure and personal belongings. Smoke damage, even if it doesn’t result from a fire within the home, is also typically covered. For example, if a neighboring property catches fire and smoke damages your home, your policy should cover the cost of repairs and cleaning.

2. Lightning

Lightning strikes can cause significant damage to a home, including fires, electrical surges, and structural damage. A standard homeowners policy covers damage caused by lightning, whether it directly strikes the home or causes a fire or power surge that results in damage.

3. Windstorm and Hail

Windstorms and hail can cause extensive damage to a home’s roof, windows, siding, and other exterior features. Most homeowners policies cover damage caused by wind and hail, although in some high-risk areas, such as coastal regions prone to hurricanes, additional coverage or a separate windstorm policy may be required.

4. Explosion

Explosions, whether caused by gas leaks, chemical reactions, or other factors, can cause catastrophic damage to a home. A standard homeowners policy covers damage resulting from explosions, including structural damage and the loss of personal belongings.

5. Riot or Civil Commotion

Damage caused by riots or civil commotion is typically covered under a standard homeowners policy. This includes damage from vandalism, looting, or other acts of violence that occur during a riot or civil disturbance.

6. Aircraft

Damage caused by aircraft, including collisions or falling debris, is covered under a standard homeowners policy. This peril is relatively rare but can result in significant damage if an aircraft crashes into or near a home.

7. Vehicles

Damage caused by vehicles, such as a car crashing into your home, is covered under a standard homeowners policy. This includes damage to the structure of the home as well as any personal property that may be damaged in the incident.

8. Smoke

Smoke damage, whether from a fire within the home or from an external source, is covered under a standard homeowners policy. This includes damage from smoke that infiltrates the home and causes discoloration or odor.

9. Vandalism and Malicious Mischief

Vandalism and malicious mischief, such as graffiti, broken windows, or other intentional damage to your property, are covered under a standard homeowners policy. However, if the home is left vacant for an extended period, coverage for vandalism may be limited or excluded.

10. Theft

Theft of personal property from your home is covered under a standard homeowners policy. This includes theft of items such as electronics, jewelry, and other valuables. However, there may be limits on the amount of coverage for certain high-value items, so additional coverage may be necessary for expensive jewelry, art, or collectibles.

11. Falling Objects

Damage caused by falling objects, such as tree limbs, satellite dishes, or other debris, is covered under a standard homeowners policy. This includes damage to the roof, windows, or other parts of the home.

12. Weight of Ice, Snow, or Sleet

The weight of ice, snow, or sleet can cause significant damage to a home’s roof or other structures. A standard homeowners policy covers damage caused by the weight of these elements, including roof collapses or damage to gutters and siding.

13. Accidental Discharge or Overflow of Water or Steam

Damage caused by the accidental discharge or overflow of water or steam from a plumbing, heating, or air conditioning system is covered under a standard homeowners policy. This includes damage from burst pipes, leaking water heaters, or overflowing washing machines.

14. Sudden and Accidental Tearing Apart, Cracking, Burning, or Bulging

This peril covers damage caused by the sudden and accidental tearing apart, cracking, burning, or bulging of a heating, air conditioning, or plumbing system. For example, if a pipe suddenly bursts due to freezing temperatures, the resulting damage would be covered.

15. Freezing

Freezing of plumbing, heating, or air conditioning systems is covered under a standard homeowners policy. This includes damage caused by frozen pipes that burst and cause water damage to the home.

16. Sudden and Accidental Damage from Artificially Generated Electrical Current

Damage caused by a sudden and accidental surge of artificially generated electrical current is covered under a standard homeowners policy. This includes damage from power surges that may damage electronics, appliances, or other electrical systems in the home.

Additional Considerations

While the 16 perils listed above are typically covered under a standard homeowners insurance policy, it’s important to note that there are exclusions and limitations. For example, damage caused by floods or earthquakes is generally not covered under a standard policy and requires separate coverage. Additionally, wear and tear, neglect, and intentional damage are typically excluded from coverage.

Homeowners should also be aware of policy limits and deductibles. Policy limits determine the maximum amount the insurance company will pay for a covered loss, while deductibles are the amount the homeowner must pay out of pocket before the insurance coverage kicks in. It’s essential to review your policy carefully and consider purchasing additional coverage if necessary to ensure you are fully protected against all potential risks.

Conclusion

Understanding the 16 perils covered under a standard homeowners insurance policy is essential for homeowners to ensure they have adequate protection for their property and belongings. While these perils provide a broad range of coverage, it’s important to be aware of exclusions and limitations and to consider additional coverage for risks such as floods, earthquakes, or high-value items. By carefully reviewing your policy and working with your insurance provider, you can ensure that your home is protected against the unexpected and that you have the peace of mind that comes with knowing you are financially secure in the face of potential disasters.