What Homeowners Insurance does not cover? 
Continued...
The Declarations Page of your policy recites maximum coverage amounts that limit what the insurance company must pay. Separate limits are set for the dwelling, other structures, personal property, and loss of use, personal liability, and medical payments to others. This means that even if you suffer a loss to your personal property in the amount of, let's say, $50,000, the insurance company will pay you no more than the policy's stated limitation recited on the Declarations Page. (Lurz, Bill (2003) If this figure within your policy is $100,000 then you're covered for all of it. On the other hand, if it's only $30,000 then you'll have a $20,000 deficit. Your homeowner's policy will not cover you for damage that results from floods, waves, sewer overflows, or water seeping into your basement. If you're involved in a business activity, your homeowner's policy will not cover you for liability or medical payments due other persons, even if the damage or injury occurred in your home.
Other structures located on your premises that are used for business purposes are also not covered by the policy. This means your standard homeowner's policy will not reimburse you for medical care required by a client who slips and falls in your home office as he's putting his coat on the rack. Your standard homeowner's policy will not cover you for damages or injuries suffered by the tenants who rent any part of your home. If an injury or damage is covered by other insurance in addition to your homeowner's policy, your homeowner's insurance company will only pay its proportionate share of the amount due.
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Think about it! More than ever, quality homeowners insurance is an absolute necessity. Without it, an accident or natural disaster could mean financial ruin to you or your family.
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