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Things home insurance doesn’t cover

Understanding Home Insurance Exclusions

A comprehensive home insurance plan can provide peace of mind, but it is crucial to be aware of the exclusions within your policy. At Oak Ridge Insurance Services in Oak Ridge, NC, we prioritize our customers by offering tailored solutions that are the best fit for them.

Typical Exclusions of Home Insurance

Certain eventualities aren’t covered under traditional home insurance, including:

  • External Flooding: Flooding that originates outside your home does not fall under the purview of standard home insurance. However, you will be covered for flooding resulting from internal issues, such as broken pipes. Homeowners in risk-prone areas can opt for flood insurance from the NFIP.
  • Wear and Tear: It’s natural for elements of your house, like roofs and siding, to experience wear and tear over time. Unfortunately, these aren’t covered under most home insurance policies.
  • Natural Disasters: Damage due to earthquakes, sinkholes, or landslides isn’t typically covered by regular home insurance policies. Specific policies can be taken for these.
  • Owner Neglect: If damage is caused due to neglected home maintenance, your home insurance is unlikely to cover it.

To find the right coverage for your home, reach out to Oak Ridge Insurance Services in Oak Ridge, NC. Allow us to assist you in finding comprehensive and suitable home insurance.

Does Homeowners Insurance Cover My Liability While Remodeling?

Remodeling or renovating your Oak Ridge, NC home raises your home’s value and creates an exciting new living space for you. It does require a bit more liability coverage while undergoing construction. At Oak Ridge Insurance Services, we want you to understand why you need to temporarily increase your liability coverage during the remodeling process.

Home Insurance Liability Coverage

While undergoing remodeling, a homeowner should increase their liability coverage because of the increased number of people in their home and the dangers of the work involved. The person doing the work for you should carry their own business liability policy, but many independent handypeople do not.

Although every licensed and certified contractor must carry liability insurance in the US, individuals who refer to themselves by the generic term “handyman” don’t carry licenses or trade certifications nor must they purchase insurance. Why the difference?

Licensed Contractors Carry Their Own Liability

Licensed contractors attend a trade school for a specific job, such as a plumber, electrician, masonry, master carpentry, etc. They typically belong to a union, and those unions require certification. Each city creates its own building code which must meet its state’s building code and can exceed it. These codes require that a worker conducting renovation or construction work must carry a current license to do that job.

The state, city, and unions can create insurance requirements. To obtain a permit to do work on any building, these licensed individuals or homeowners must make an application and pay a fee. Without proof of licensing and insurance, they cannot obtain a permit. Only the homeowner can.

Most States Don’t Require Handypersons to Carry Insurance

Because handypersons don’t specialize, they cannot legally complete certain work. For example, a handyperson cannot legally install electrical wiring since they do not carry a license for that job. Hiring them for small jobs like fixing holes in drywall works great; avoid hiring them for large jobs that require specialization and license.

They might be an experienced do-it-yourselfers with no training and no professional experience, but they won’t get in trouble unless they use a professional title they did not earn, such as a plumber or master carpenter. These independent contractors rarely carry business liability insurance.

As long as you hire licensed union construction personnel, the general contractor will carry business liability. You should ask to see proof of their insurance before they start work. You should still increase your coverage temporarily, but you can probably get away with adding less than if you hired a handyperson who isn’t insured.

Home Insurance Revaluation Post-Remodeling

Also, when you finish your remodeling project, your home should undergo a re-valuation. This process ensures that you insure your home for its current value, not for the value that you originally purchased it. In case you need to file a claim, updating your home insurance covers your home’s full value.

Reach Out To Us

Protect your equity and your finances with home insurance for your Oak Ridge, NC home. Contact Oak Ridge Insurance Services today to make an appointment.

Three misconceptions you shouldn’t believe about home insurance

Any homeowner needs to understand the importance of purchasing home insurance. If you own a home in Oak Ridge, NC, you can buy home insurance from us at Oak Ridge Insurance Services.

Homeowners should know that there are a lot of misconceptions out there regarding home insurance.

Below are three misconceptions you shouldn’t believe about home insurance:

You must purchase home insurance

Although purchasing home insurance is always advisable, you are not technically required by law to purchase this type of insurance.

However, mortgage lenders do require borrowers to have home insurance. Therefore, you are required by your lender to carry home insurance until you’ve completely paid off your mortgage loan. 

Your home insurance policy will always cover you for items that are stolen from your home

It’s true that home insurance covers you for items that are stolen from your home. However, there are policy maximums in place that limit the amount that your policy will cover when it comes to stolen items.

If you have especially valuable items in your home like art collections or jewelry, you should make sure that you have enough personal property coverage to cover the full value of these items. 

Your home insurance policy will cover you for damage caused by pests

A standard home insurance policy does not cover you for damage caused by pests. That’s why it’s so important to maintain your home properly to prevent pest infestations. 

Get Home Insurance Today

When you’re ready to get a quote on a home insurance policy for your property in Oak Ridge, NC, call or email us at Oak Ridge Insurance Services. We’ll provide you with the home insurance you need to protect the investment you’ve made in your property. 

Buying A Home? What You Need To Know Before Purchasing A Homeowners Insurance Policy

Buying a new home is exciting, but it can also be scary. Purchasing the right homeowner’s insurance policy can help you feel safe and secure that your finances are protected in the event that something goes wrong with your new home. Here, we’ll take a look at everything you need to know about buying a homeowner’s insurance policy. 

Figure Out What Coverage Level Makes Sense For You

Homeowner’s insurance isn’t just about the cost of your home itself—it’s also about the cost of the possessions that you’ll store inside your home. Work closely with your insurance agent to discuss the level of coverage that makes the most sense to protect your home and the physical assets that you’ll store inside the home.

Learn More About Policy Options

There’s not a one-size-fits-all insurance policy. Talk with your insurance agent about what type of policy makes the most sense for you. If you’re purchasing a condo, for example, you may want to choose an insurance policy that’s specific to your needs. 

Consider Your Deductible

A lower deductible may result in a higher monthly cost but can make sense if you can afford to do so. When you pay a higher monthly cost, you’ll pay a lower deductible in the event that something goes wrong. This can make it easier to handle necessary repairs that are covered by your insurance policy. 

Buying A Home? We’re Here To Help

Oak Ridge Insurance Services, serving Oak Ridge, NC, is here to help you prepare to move into your new home by helping you explore your homeowner’s policy insurance options. Reach out or stop in today to get more information. 

How to create and store a home inventory

Your home may be your castle, but that castle can fall victim to many hazards. If you ever need to file a claim, and 10%of homeowners do file claims every year, you will need some proof of what you lost. Your home inventory will be what you turn to when you need that proof. Oak Ridge Insurance Services in Oak Ridge, NC is your local independent insurance agency. We can craft a plan that gives you the right coverage at the best price. 

A home inventory is a record of all the items you own. Once you start making it, you will be surprised by how much you own. It is most likely a lot more than you would ever suspect. You can do a traditional inventory with a pen and pad or a digital one. No matter what option you choose, you need to accompany it with photos and receipts. 

Start in the room of your choice and write down everything you see. Open closets and drawers. Give as much detail as possible. The better your inventory, the better your end results will be. When it comes to electronics, giving brand name, model and serial numbers will help. If you have expensive items, have an appraisal to maximize your benefits. 

Make sure you go to your attic, basement, and garage. Once you have everything listed, you need to store your inventory someplace where it won’t be destroyed if your home is a total loss. Making a copy and placing it in the cloud works. If you don’t have a cloud, a waterproof and fire-resistant box is an option or a safe deposit box. 

It does take time to make an inventory, but if you ever need it, you will be very grateful.

Contact Oak Ridge Insurance Services in Oak Ridge, NC for all your insurance needs. 

Protect your home and property with a comprehensive policy

Are you looking to buy a home in the lovely Oak Ridge, NC community? If so, the team at Oak Ridge Insurance Services has got you covered! We have found that there are different beneficial coverage features when it comes to protecting a home with a substantial amount of property. We understand that everyone’s needs are sometimes different, and we take a hands-on approach when it comes to helping our clients find the right insurance. 

Benefits of a comprehensive policy to protect your property

Basic policies are, just as the name implies, basic. However, most people who own a home with property and perhaps some outbuildings are often insufficiently covered. When there is the property and other buildings in addition to a family home, a comprehensive policy is a good way to cover all the bases. 

In addition to the main structure, it is sometimes possible to protect additional buildings such as barns, workshops, and storage sheds, all within the same policy. Peace of mind comes with knowing that protection levels are adequate, and everything has coverage if and when a covered event should occur.

Insurance may not be fun, but it is necessary and can be an important part of actively protecting one’s family. There is no reason to settle for an insufficient policy when there are many comprehensive homeowner policies available. 

Rest easy with the right homeowners’ policy!

Oak Ridge Insurance Services is here to help you review the different types of insurance that are available. We want our friends and neighbors in the greater Oak Ridge, NC area to have the protection they need. Call or stop by our office today and learn more about how you can protect your home and property with a comprehensive policy. 

How to keep your home safe during summer

Our homes are the single most essential assets in our lives, and protecting them is our topmost priority. The summer season is here, and it can particularly get hot in Oak Ridge, NC, which means most of us have to leave home and engage in various outdoor activities. So, how do you ensure that your home is safe when you are out there? At Oak Ridge Insurance Services, we can help you keep your home safe by providing you with a home insurance policy that is customized based on your needs and budget.

Apart from buying insurance, here are a few ways you can keep your home safe.

Make sure your doors and windows are burglar-proof

According to research, 30 percent of burglars gain entry into homes through an unlocked door or window. Before you leave, check all your doors and windows for faults and make any necessary repairs if needed. It is also essential to invest in heavy-duty padlocks or locks to prevent easy access by thieves.

Invest in a home security system

You need peace while on vacation, and only a home security system can provide that. Most smart home security systems can be connected to your device, whether it’s a phone or laptop. This way, you can check your home from wherever you are.

Install smart lights to trick burglars

If you are going to be away for some time, you will need to be a step ahead of burglars. Turning all your home’s lights off can be a terrible idea because you will be informing everyone that you are away. The best way to handle this would be to purchase smart lights and bulbs, which you can turn on and off from wherever you are.

Lastly, let your neighbor know that you will be away and avoid posting about your intentions on social media. Most importantly, make sure your home insurance policy is up to date, and all the necessary coverages are intact. For more information about home protection, please speak to any Oak Ridge Insurance Services expert or visit us in our Oak Ridge, NC offices.

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