You probably know that your homeowners insurance can help protect your home from unexpected damage, but how well do you actually know your policy?
The tricky part about homeowners insurance is understanding what happens when something unusual occurs, especially as your home ages. From an deteriorating roof to a flooded basement, here are five questions worth asking before you need the answers.
1. How old is your roof?
Quick check: Do you know approximately how old your roof is?
- Less than 10 years
- 10–20 years
- More than 20 years
Your roof is one of the most important parts of your home’s protection, and its age and condition can matter more than you may realize when reviewing your homeowners insurance.
Tip: If you’re not sure when your roof was installed, check your closing documents, home improvement records, or ask a roofing professional.
2. Your basement has water in it… but it didn’t rain. Are you covered?
Water entering your basement because of sewer or drain backup isn’t necessarily treated the same way as water entering your home because of flooding.
That’s why it’s worth checking whether your policy includes sewer and drain backup coverage.
Think about it: A backed-up drain can cause significant damage to flooring, furniture, appliances, and personal belongings.
Ask your HAWK Adviser: “Does my policy cover sewer or drain backup, and what are the limits?”
3. What happens if your older home must be rebuilt?
Imagine a covered loss significantly damages an older portion of your home. When repairs begin, you may discover that today’s building codes require upgrades that weren’t necessary when the house was originally built.
That’s where ordinance or law coverage can become important.
It can help address certain additional costs associated with rebuilding or repairing a damaged home to comply with current building requirements, subject to the terms and limits of the policy.
Your turn: Check your policy. Do you know whether you have ordinance or law coverage? (If you’re not sure, that’s a good question to bring to your HAWK Adviser!)
4. Does the age of your home really matter?
Older homes can have older roofs, plumbing, electrical systems, heating systems, and other components that may be important when evaluating insurance needs.
That doesn’t mean an older home can’t be properly insured. It simply means your home may require a different conversation than a newly constructed property.
If you own an older home, consider asking:
- When was the roof last replaced?
- Has the electrical system been updated?
- How old are the plumbing and HVAC systems?
- Have major renovations been completed?
- Is the home’s replacement cost still accurate?
5. What if you can’t live in your home after a covered loss?
If and when covered loss makes your home temporarily unlivable, where would you stay? And more importantly, how would you pay for the additional costs?
Many homeowners policies include coverage commonly referred to as loss of use or additional living expenses, which may help with certain increased costs while your home is being repaired after a covered loss.
That could potentially include things like temporary housing or additional food expenses, depending on the policy.
Don’t wait until you’re displaced to find out what your policy provides.
| Your 60-Second Home Insurance Checkup
Grab your policy and see how many of these you can answer:
- I know the age of my roof.
- I know whether sewer/drain backup is covered.
- I know whether I have ordinance or law coverage.
- I know how my home’s replacement cost is determined.
- I know what my policy says about loss of use.
- I know which major systems in my home have been updated.
| Don’t Wait for the “What If?”
Homeowners insurance is easiest to understand before you need it.
Whether you’re living in an older home, finishing your basement, replacing your roof, or simply haven’t reviewed your policy in a few years, a conversation with your insurance professional can help you understand where you may have coverage, as well as where additional coverage could be worth considering.
Have questions about your homeowners insurance? Start with your policy, then talk with your HAWK Adviser about the details that matter for your home.
Available Sources
- Virginia State Corporation Commission — Virginia Homeowners Insurance Guide
- Virginia State Corporation Commission — Disaster Strikes: Insured Homeowners Loss
- National Association of Insurance Commissioners — Homeowners Insurance
- National Association of Insurance Commissioners — Replacement Cost vs. Actual Cash Value
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