Pets and Home Insurance: Your Guide

At Cary-Wheeler & Associates Inc., we help Richmond, VA residents better understand their home insurance options. For example, we can give you the insight that you need to grasp better whether your pets are covered and what kind of high-quality protection you may receive.

Pet Damage: Are You Covered? 

When your pet damages your home due to inappropriate behaviors (such as cats scratching the walls or dogs tearing up carpets), your homeowner’s insurance policy usually will not cover the repairs. This type of damage is considered an assumed risk of owning a pet and does not get covered. 

That said, if your dog does damage somebody else’s property when they are visiting you (such as a dog breaking someone’s expensive items when jumping on them as a greeting), your liability coverage may help out. That will depend on your exact policy, though, so make sure that you check this fact. 

Pet Bites: Will You Be Protected?

Liability coverage on your homeowner’s policy should protect you if your dog or cat bites someone and seriously injures them. Your policy will pay up to its limit, which will vary based on your policy. And if you have an umbrella insurance option, that will kick in to pay the extra amount of the lawsuit. 

Not every pet owner will need an additional liability policy, though, as bites are usually quite rare. That said, if you own multiple dogs and know that they have bitten people in the past, it might be worth seriously considering this additional policy to ensure that you don’t end up experiencing complications. 

Learn More About This Coverage 

If you need high-quality home insurance in Richmond, VA, please contact us at Cary-Wheeler & Associates Inc. to learn more. We’ll help you understand your pet policy choices and give you the insight that you need to manage this concern smoothly and efficiently.

Is home insurance required in Virginia?

Your home in Richmond, VA is beautiful and a sign of your financial success. It would be best if you had a home insurance policy that protects your prized asset in more ways than one. The agents at Cary-Wheeler & Associates Inc. can help you understand indemnity coverage for your home so that you purchase the best policy for your lifestyle. 

What does home insurance cover?

A standard home insurance policy pays for damage to the structure as well as possessions inside the home. The best indemnity coverage also pays for medical bills if a guest is injured while visiting your home. 

Most standard home insurance policies do not pay for natural disasters such as flooding and fires caused by heavy winds. Homeowners need additional coverage to pay for these events. 

Is home insurance required in Virginia?

There is no state law requiring all homeowners to obtain home insurance in Richmond, VA. Owners with mortgages funded by the federal government are, however, required to have home insurance. 

How much indemnity coverage do you need?

The amount of home insurance you need depends on your lifestyle preferences as well as the market value. It is best to choose a policy worth at least 80 percent of your property’s value to avoid coverage restrictions in the instance of total disaster. 

It would be best to consider an indemnity policy that protects treasured possessions such as antiques and keepsakes that have more sentimental value than market worth. A standard home insurance plan may not provide enough financial compensation if such items are destroyed. 

The agents at Cary-Wheeler & Associates Inc. can help you put together a home insurance plan that protects your assets. Call them today to request a quote for coverage!

What You Need to Know about Home Insurance Exclusions

No matter what type of insurance policy you are buying in Richmond, VA, there are likely some common perils that the insurance company won’t cover. Knowledge is going to be power, so you know if you have a home insurance claim. Knowing what your policy includes and excludes will help you know when it’s best to purchase some extra coverage. 

The only way to know what is excluded in your policy in Richmond, VA is to read your policy carefully or speak with an agent at Cary-Wheeler & Associates, Inc. However, there are a few things that are generally excluded from most policies. 

  • Building Code Upgrades: If you have suffered damage and want to upgrade while rebuilding, this is usually not covered since the policy pays for what is initially insured. However, you can get a rider for this coverage to give you an amount toward upgrade costs. 
  • Flooding: If your basement floods or there is a natural disaster that causes flooding, you won’t have coverage under your home insurance and will need to purchase flood insurance if you want protection. 
  • Home Business Accidents: If you run a business out of your home, this needs to be insured separately. A small business may only need a rider to your current policy, but other businesses require separate business insurance. 
  • Earth Movements: If you have a home on a cliff, it’s essential to be aware of the risk. A standard policy won’t pay for landslides or other house slides. This is considered earth movement and will be excluded. Other things under earth movement include sinkholes or earthquakes.  
  • Intentional Loss: If you did something on purpose with the intent to cause a loss, then you won’t be able to file a claim. 

Contact Cary-Wheeler & Associates, Inc. to get a quote on home insurance.