Scary Insurance Gaps You Might Not Know About

Scary Insurance Gaps You Might Not Know About

It’s spooky season—and not just because of costumes and haunted houses. Some of the scariest things are hiding right in your insurance policy, including gaps in coverage you might not even know exist.

Common (and Costly) Coverage Gaps

1. Water Backup
   Flooding from a backed-up drain or sump pump isn’t usually covered under standard homeowners’ insurance. You’ll need a special endorsement to ensure protection.
2. Dog Bite Liability
   If your dog bites someone, especially off your property, you could be held financially responsible. Some policies exclude coverage for certain breeds or prior bite history.
3. Personal Cyber Protection
   Phishing, identity theft, and ransomware attacks are on the rise. Cyber liability coverage can help with expenses related to fraud, stolen funds, and identity restoration.
4. Valuables Like Jewelry or Art
   Many standard policies cap coverage for valuables. You may need to “schedule” high-value items separately to insure them fully.

 
Don’t Be Afraid to Ask Questions

Review your policy with your insurance advisor this month and ask, “What am I not covered for?” A few small additions today could save you from a terrifyingly expensive surprise down the road.