Chris Paradiso

By now, everyone has heard the statistic that states 55% of American home insurance owners admitted to not fully understanding what their homeowners policies cover. Since that statistic was announced recently, more homeowners are trying to better educate themselves on what their coverage really is. After all, it’s one of the most important types of insurance.

It’s easy to become lost when talking to an agent about what’s covered, but here are a few things that are generally not covered in a typical homeowner’s policy:

• Floods. Probably the biggest misconception concerning home insurance is the coverage of flood damage. The National Flood Insurance Program, run by the Federal Emergency Management Agency, offers coverage.

• Intentional Damage. Intentional damage by an insured person, or by the person’s spouse, child(ren), or relatives living in the house, typically is not covered. Victims often complain that these policies are unfair, as you never know what other people will do. We suggest getting help for a destructive teen, beefing up your home’s security system, or reaching a quicker divorce settlement.

• Mold and Water Damage. A huge increase in mold-related claims has many insurers attempting to eliminate, or at least reduce, their exposure. Many insurers are also now limiting how much they’ll cover for water damage.

• War, Nuclear Accidents, and Terrorism. See that invading army coming over the horizon? That isn’t good for your home insurance. The same goes for power plant damage and terrorist attacks. Since 9/11, more and more insurers are specifically excluding terrorism coverage.

• Neglect. Insurance companies expect you to take care of your home and deal with any maintenance issues. Most likely, they won’t reimburse you if your home collapses because of a termite infestation or your roof falls in because of a leak that you never got around to repairing. It’s a good idea to check the upkeep of your home at least twice a year. Look for things like rodent droppings, termites, leaks, and the condition of the roof. Inspect the basement, attic, and/or crawlspace. If you find a problem, fix it.

• Dogs. Liability from dog bites cost insurance companies roughly $310 million a year, and many companies have a list of breeds they charge more to cover, or won’t accept at all. If your dog has ever bitten anyone, you’re most likely going to have some trouble getting coverage.

• Computers, Luxury Items, and Collectibles. If you have a home business with multiple computers and/or equipment, or if you have antiques, guns, jewelry, collectibles, or fine furs, you may need extra coverage.The typical policy limits coverage for some of these items. You could get as little as $200 for that rare coin collection, or $1000 to cover all your jewelry, watches, and furs.

Don’t be afraid to ask your agent questions, and don’t let them be too vague. After all, it’s your home, your protection, and your money.

Paradiso Insurance is an independent insurance agency in the Tolland, Connecticut area. To learn more about Tolland, Somers, and Stafford home insurance, contact them today.

I remember when my father began making me pay for my own car insurance. For my 17th birthday/Christmas gift from my parents, my present was a 1982 Chevrolet Caprice, along with a year’s worth of car insurance paid for. It was an amazing year. Freedom, freedom, how sweet it was.

Then, as soon as I turned 18, it all went downhill. My father had pretty much been waiting all year to announce it: “Time to pay for your own car insurance. You’re an adult now.”

Naturally the very first thought that came into my head was, I can get by without it. After all, I had gone three whole years without any kind of accident, and by this time I was completely broken in.

But my dad wouldn’t hear of it. “The necessity of it, son, the necessity!” he’d rant. “Insurance is necessary. It doesn’t matter how safe you drive. You can’t account for the other drivers on the road. What if someone is sleepy and they run into you? What if they’re drunk? What if you’re in the crossfire of a high-speed car chase?”

I grumpily paid for the auto insurance until I moved out of my parents’ house. (I won’t embarrass myself by saying how many years later that was.) Then, like a sly fox, I stopped. Well, I stopped except for the bare minimum that Connecticut required of me.

Then, three months later, it happened. A chilly February evening; an icy road; a 16-year-old girl. My beautiful Chevrolet Caprice…destroyed. Did I have auto insurance? Oh, not nearly enough.

It goes without saying that my father refused to give me a helping hand. For the next two years, I had to depend on my brothers and my friends to drive me anywhere. And that was after my broken leg healed – a broken leg I had to pay for myself.

I have since picked up paying for auto insurance. And not just the cheapest policy I can get away with; none of that, thanks. I ensure my (new) car the way that makes me feel safe. It’s worth it – since that time, I’ve been in four more accidents, none of them my fault. And do you know how many drivers there are in Connecticut with no insurance?

Take it from me: necessity is still going strong. I still wish I had listened to my father.

Paradiso Insurance is an independent insurance agency in the Tolland, Connecticut area. To learn more about Tolland, Somers, and Stafford auto insurance, contact them today.