Bradford residents are protected by their homeowners insurance policy in a number of different scenarios, mostly related to a damaged or destroyed home. While most events are covered, there are a few things that might happen which would not be covered under a basic homeowner's policy.
Five Events a Basic Bradford Homeowners Insurance Policy Will Not Cover
Floods in Bradford, VT
Most people without flood insurance find out that their regular homeowners policy will not cover flooding right after they try to make a claim. If you live in an area that falls even within a 500-year flood zone, obtaining insurance specifically for flooding may end up saving you a significant amount of money if your home ever floods.
Bradford does not see much in the way of earthquakes, which is good since most homeowners insurance policies will not cover them as part of a standard package. A destructive earthquake in the Northeast is a relatively rare enough event that insurance companies do not factor them into their calculations when coming up with your monthly premium. Anything they do not calculate will usually not be covered.
Nuclear Accidents and Homeowners Insurance
A nuclear plant having a meltdown can be absolutely devastating for the surrounding area. Since literally everything would be a total loss in most cases, not to mention health effects that homeowner's insurance companies may be on the hook for, most companies choose not to cover nuclear meltdowns or any nuclear material release. The federal government does have a fund that was created specifically for those affected by a nuclear meltdown which should compensate you for your loss.
Insurance companies want the people they cover to be proactive in the upkeep of their home. A homeowner who makes timely repairs and keeps the house well-maintained is less likely to have major issues when it comes to preventable disasters such as fires. Termites fall into the category of "preventable" since an exterminator or termite inspection can mean the difference between a termite-free home and one that may need to be torn down. Since too many people do not place a high priority on keeping termites out of their home, insurance companies will not pay for damage caused by them.
This works much the same was as flooding but the problem is almost always man-made. You have no control over the age and upkeep of main sewer lines that your home's lines are connected to, making it hard to calculate how much of a backup risk there is for each homeowner. A sewer backup can cause a substantial amount of damage fairly quickly, as well as create problems that might not be immediately visible, but it may manifest itself several years down the road.
While there may not be many earthquakes or nuclear accidents in Vermont, the other issues can, and do, pop up from time to time. You may want to talk with your Bradford insurance provider to see what can be done about getting extra coverage to keep you covered even in these rare circumstances.
This material is for informational purposes only. All statements herein are subject to the provision, exclusions, and conditions of the applicable policy. For an actual description of all coverages, terms, and conditions, refer to the insurance policy.