Including the declarations page. Keep track of the kinds of losses that are not covered.
Losses from the following are typical exclusions for homeowners:
Floods, earthquakes, valuable personal property, future assets, pollution, war, accidents caused by nuclear weapons, intentional damage, normal wear and tear.
Construction defects, vehicles parked on your property, frozen pipes, vandalism, damage to the property of tenants, and pets and other animals living on your property are all covered by HO.
Which provides basic coverage for older homes for their actual cash value less depreciation.
There is rarely a full replacement cost option available under these policies. It is a policy with “named perils.”
Condos and cooperatives are covered by an HO-6 policy. For the portion of the structure that you own, you are covered against losses caused by risks listed in the policy.
