Home Insurance FAQ

Q: I own a condo and by bathtub overflowed damaging the ceiling in the unit below mind. Will my insurance cover this damage?

A: With a bit of luck, you may not have to file a claim. There is a good chance that your neighbor's policy will cover the damage. Or the condo association's policy may be able to help you out. But if these insurers feel that you were negligent you may need to file a claim with your own insurer.

Q: Would my insurance company pay for my living expenses if it were destroyed by a hurricane?

A: Some policies cover living expenses such as lodging, food, storage, and other details while being rebuilt. Most insurance policies limit the length of coverage that you can collect reimbursement for these expenses.

Q: Do I need to have insurance for my home while it is being built?

A: Yes, it is recommended that you do so. If you neglect to do this you may expose yourself to a lot of risk such as theft, fire, or other events that could destroy the structure before it is built. A standard policy will cover damage during the building process.

Q: Does my homeowners insurance policy cover exterior features such as a driveway, fencing, etc?

A: Most standard homeowners policies cover a broad range of personal property and structures surrounding your home. Check with your insurer to get details on what is covered.

Q: I am interested in buying a home, but there is a creek in the backyard. Do I need to purchase some sort of flood insurance?

A: Flooding does occur along river and creek banks as well as other bodies of water, but these are not the only places where this can happen. Heavy rains, melting snow, or bad drainage can all lead to flooding. For this reason, you should considering buying flood insurance.