These Events Are Not Covered in a Standard Homeowners Insurance Policy, According to Mercury Insurance
Mercury Insurance (NYSE:MCY) has released important information about events not covered by standard homeowners insurance policies. The company highlights that while basic policies cover damage from fire, sudden water damage, and theft, they typically exclude several critical events.
According to Adam Bakonis, Sr. Product Manager, homeowners need separate coverage for: floods (including coastal storm surge and river flooding), earthquakes (including landslides and mudslides), damage from neglect, animal damage, detached structures used for business, construction damage, and home-based businesses. The company emphasizes the importance of annual policy reviews with insurance agents to ensure adequate coverage.
Mercury Insurance (NYSE:MCY) ha comunicato informazioni importanti riguardo agli eventi non coperti dalle polizze standard per la casa. L'azienda sottolinea che, sebbene le polizze di base coprano danni da incendio, danni improvvisi causati dall'acqua e furto, solitamente escludono diversi eventi critici.
Secondo Adam Bakonis, Senior Product Manager, i proprietari di casa necessitano di una copertura separata per: alluvioni (inclusi gli effetti di mareggiate costiere e inondazioni fluviali), terremoti (compresi frane e smottamenti), danni da incuria, danni causati da animali, strutture staccate utilizzate per attività commerciali, danni da lavori di costruzione e attività commerciali domestiche. L'azienda raccomanda di effettuare una revisione annuale della polizza con gli agenti assicurativi per garantire una copertura adeguata.
Mercury Insurance (NYSE:MCY) ha publicado información importante sobre eventos no cubiertos por las pólizas estándar de seguro para propietarios. La compañía destaca que, aunque las pólizas básicas cubren daños por incendio, daños repentinos por agua y robo, suelen excluir varios eventos críticos.
Según Adam Bakonis, Gerente Senior de Producto, los propietarios necesitan una cobertura separada para: inundaciones (incluyendo marejadas costeras y desbordamientos de ríos), terremotos (incluyendo deslizamientos de tierra y lodos), daños por negligencia, daños causados por animales, estructuras separadas usadas para negocios, daños por construcción y negocios desde casa. La compañía enfatiza la importancia de revisar la póliza anualmente con los agentes de seguros para asegurar una cobertura adecuada.
머큐리 보험 (NYSE:MCY)는 표준 주택 보험 정책에 포함되지 않은 중요한 사건들에 관한 정보를 발표했습니다. 회사는 기본 정책이 화재, 갑작스런 수해, 도난 피해를 보장하지만 여러 중요한 사건들은 일반적으로 제외된다고 강조합니다.
아담 바코니스(Adam Bakonis), 수석 제품 관리자에 따르면, 주택 소유자는 홍수(해안 폭풍 해일 및 강 범람 포함), 지진(산사태 및 진흙사태 포함), 방치로 인한 피해, 동물 피해, 사업용 별도 구조물, 건설 피해, 그리고 가정 기반 사업에 대해 별도의 보장이 필요합니다. 회사는 적절한 보장을 위해 보험 대리인과 연례 정책 검토의 중요성을 강조합니다.
Mercury Insurance (NYSE:MCY) a publié des informations importantes concernant les événements non couverts par les polices d'assurance habitation standard. La société souligne que, bien que les polices de base couvrent les dommages causés par le feu, les dégâts d'eau soudains et le vol, elles excluent généralement plusieurs événements critiques.
Selon Adam Bakonis, Responsable principal produit, les propriétaires doivent souscrire une couverture séparée pour : les inondations (y compris les tempêtes côtières et les crues de rivière), les tremblements de terre (y compris les glissements de terrain et coulées de boue), les dommages dus à la négligence, les dégâts causés par les animaux, les structures détachées utilisées à des fins commerciales, les dommages liés à la construction et les activités professionnelles à domicile. La société insiste sur l'importance de revoir annuellement sa police avec un agent d'assurance afin de garantir une couverture adéquate.
Mercury Insurance (NYSE:MCY) hat wichtige Informationen zu Ereignissen veröffentlicht, die von Standard-Hausbesitzer-Versicherungspolicen nicht abgedeckt sind. Das Unternehmen weist darauf hin, dass grundlegende Policen Schäden durch Feuer, plötzliche Wasserschäden und Diebstahl abdecken, jedoch typischerweise mehrere wichtige Ereignisse ausschließen.
Laut Adam Bakonis, Senior Produktmanager, benötigen Hausbesitzer eine separate Absicherung für: Überschwemmungen (einschließlich Küstensturmfluten und Flussüberschwemmungen), Erdbeben (einschließlich Erdrutsche und Muren), Schäden durch Vernachlässigung, Schäden durch Tiere, abgetrennte Strukturen, die für Geschäfte genutzt werden, Bauschäden und Heimbetriebe. Das Unternehmen betont die Bedeutung jährlicher Policenüberprüfungen mit Versicherungsvertretern, um eine angemessene Absicherung sicherzustellen.
- Educational initiative to help homeowners better understand their insurance coverage
- Clear explanation of coverage gaps that could help prevent financial losses for homeowners
- Offers solutions through additional coverage options and endorsements
- Highlights significant coverage limitations in standard homeowners insurance policies
- Reveals potential financial risks for homeowners with inadequate coverage
Floods, Earthquakes and Detached Structures Require Additional Coverage
Understanding what your policy does — and does not — cover in advance of a peril can allow you to take the precautionary steps so you're not caught off guard following a home disaster.
"Homeowners insurance generally provides coverage for damage or loss to your home and personal possessions due to events like fire, sudden water damage from a burst pipe, or theft. However, certain situations may not be included in your policy," said Adam Bakonis, Sr. Product Manager State for Mercury Insurance. "For example, you may need to purchase separate flood or earthquake insurance to protect your home from coastal or river flooding, or seismic activity if you live in areas prone to these events, as they are usually not covered by a standard homeowners policy."
Here's a further breakdown of events that are typically not covered by a standard homeowners insurance policy:
- Floods: A typical policy does not cover flooding related to rivers, coastal storm surge, or water running off the surface of the ground or from under the ground into the home. To get flood coverage, your agent can help you purchase a separate flood insurance policy to protect your home.
- Earthquakes, landslides and mudslides: Homeowners insurance generally does not cover damage from any land movement, including earthquakes, landslides, mudslides and sinkholes. Like flood insurance, your agent can help you secure coverage through a separately purchased earthquake insurance policy or endorsement. Without it, you'll have to pay out of pocket to replace broken possessions, repair any damage or even rebuild your home. Residents in
California with a homeowners policy from a participating insurer can purchase earthquake insurance from the California Earthquake Authority via their agent. - Damage caused by homeowner neglect: Proper home maintenance can help prevent damage from neglect. Costs for an issue like mold, for example, will generally not be covered if it was brought on by repeated leakage over an extended period. If you notice an issue in need of repair, it's critical to address it quickly to avoid further damage.
- Animal damage: Damage from animals like bees, bedbugs, rats, termites and others are rarely covered, which means pest control falls upon the responsibility of the homeowner. Additionally, damage caused by a household pet is typically not covered, but insurers will often cover personal liability and legal fees associated with an event like a dog bite when it involves someone outside the household. However, certain breeds — often including pit bulls, among others — and dogs with a history of biting may not be covered.
- Detached structures: The detached structures on your property may not be covered by your homeowners policy if they are used for business purposes or rented out to others. You may be able to endorse your policy to extend coverage to the other structures when used for certain acceptable business purposes or when rented as a private residence.
- Construction damage: A typical policy will not protect against any losses or damages that arise from remodeling your home. Plus, you may be liable for injuries to workers, so it is best to only allow licensed, bonded and insured contractors to work on your home.
- Home-based business: A homeowners insurance policy will generally not cover a home-based business such as a daycare. For adequate protection, homeowners will need an endorsement or separate business insurance policy.
"The most important thing you can do to protect your home is to be informed about your homeowners insurance policy," said Bakonis. "Mercury recommends that you consult with an agent to reassess your homeowners insurance each year to ensure you have adequate coverage to protect your assets for years to come."
To learn more about homeowners insurance and what it typically covers, visit Mercury's blog.
About Mercury Insurance
Headquartered in
Since 1962, Mercury has provided customers with tremendous value for their insurance dollar by pairing ultra-competitive rates with excellent customer service, through more than 4,200 employees and a network of more than 6,340 independent agents in 11 states. Mercury has earned an "A" rating from A.M. Best, as well as "Best Auto Insurance Company" designations from Forbes and Insure.com. For more information visit www.MercuryInsurance.com or follow the company on Twitter or Facebook.
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SOURCE Mercury Insurance
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