A good homeowners policy covers your appliances as well as the rest of the contents in your home. There are different types of coverages, however. This means that certain types of damage may require specific types of insurance. Appliances that are built into your home, like your water heater, will be taken care of through your dwelling coverage. Appliances that fall under your personal property coverage are those that plug into the outlets in your home.
The most common perils that homeowners deal with when it comes to their appliances are fire, lightning strikes, and theft. With the technological advancements many appliances have, a strong power surge may be all it takes to damage them beyond repair. Your policy's dwelling coverage will more than likely carry coverage that is similar to appliances that are built into your home.
Just like any other type of insurance, your personal property coverage may have specific limits and deductibles. Older appliances may be subject to depreciation, which means you probably won't get what you originally paid for them. Different types of coverage come with their own limits. You will need to talk to your insurance agent to make sure you have a firm understanding of what is covered and for how much.
Your appliances are normally covered by your homeowners policy if an event occurs that is out of your control. Theft, vandalism, fire, and lightning strikes that result in power surges are common perils where your policy will provide coverage and pay to replace your appliances.
Appliances are not covered when they break down or become damaged due to a lack of maintenance. If you have new appliances, make sure to have them serviced regularly. This guarantees that they will be in good working order and will remain operable for several years. It also gives you peace of mind that they will be covered under your homeowners insurance if something ever happens to them.
If your stove is a built-in model, it will more than likely be covered if it happens to catch fire. If the fire makes your home uninhabitable, the Loss of Use portion of your policy should cover the expense of staying in a hotel.
If your refrigerator is old and breaks down due to age and wear and tear, your homeowners policy won't pay to replace or repair it. If the damages are caused by a known peril, then your policy should pay for a new one or at least pay to have it repaired.
Including an equipment breakdown policy along with your homeowners insurance isn't a bad idea. It will pay to have your appliances fixed or replaced if they break down. You could also get an extended home warranty that will cover damages to your appliances if they are not under warranty.
You rely on your appliances to keep your family comfortable. When one of them breaks down, it can lead to a variety of inconveniences. Contact the agents of John E. Peakes Insurance Agency to learn more. We have the answers you are looking for when it comes to ensuring your home appliances are covered.
