When understanding your insurance policy, knowing the exclusions and limitations is essential. These are the circumstances and events that your insurance policy may not cover, and in some cases, they can leave you with unexpected expenses and financial burdens. Advantage Insurance Network explains the exclusions and limitations you need to know to ensure you have the right coverage.

Some of the most common exclusions in insurance policies are natural disasters, such as floods, earthquakes, and landslides. Standard homeowners’ insurance policies may not cover these events, and you may need to purchase additional coverage to protect your property. Floods, in particular, are a significant risk for homeowners in flood-prone areas, and it’s essential to understand your policy’s coverage limits.

Another type of exclusion that you need to be aware of is personal property. Some policies may not cover specific types of personal property, such as jewelry, artwork, or antique items. If you own valuable personal property, it’s worth checking your policy to see if you need to purchase additional coverage.

Insurance policies may also have limitations on liability coverage, which is the protection offered if someone is injured on your property or as a result of your actions. For example, a standard homeowners’ insurance policy may provide liability coverage of up to $100,000, but if you have significant assets, you may need higher limits. To determine the right level of liability coverage for your situation, speak to your insurance agent and consider consulting with a financial advisor.

Understanding the exclusions and limitations of your insurance policies is critical to ensuring you have the right coverage to protect your assets in Cincinnati, OH. Contact Advantage Insurance Network anytime to learn more about your insurance coverage.