Having an insurance coverage means that your home is protected from every risk and mishap, right? Wrong. It's a mistake to believe that your home owner's policy covers everything, as insurance companies are particularly savvy about mitigating their own risk. Many policies have exclusions and loop holes which only come to light when you are already facing a problem.

Here is a list of some things which are usually not covered in a standard home owner's policy and would require you to get a separate policy or rider.

Earthquakes:  While damaging earthquakes are not common in New England, if an earthquake damages or destroys your house it's not likely covered by a standard policy.

Mold:  Mold, which occurs due to either water damage or a plumbing system leakage, might not be covered by your insurance. Call your agent, but get it removed as soon as you discover the problem so it doesn't get any larger.

Floods & Flooding:  All flood insurance is handled under the National Flood Insurance Program quite seperate from your homeowner's policy. Our neighbors in Vermont have been hit hard a couple of times in the last few years. Might be time to pick this up!

Pool & Trampoline Injuries:  There are more than 80,000 trampoline injuries and 1,000s of accidental drownings each year, many of them in backyard pools. Insurance companies don't like the odds. These 'attractive nuisances' should be fenced and every precaution taken.

Aggressive Dogs:  Americans seek medical attention for more than 880,000 dog bites each year, and most insurance companies decline coverage for certain breeds. Excluded breeds vary from company to company so check with your insurance agent.

Wear and Tear:  Not paying proper attention to the maintenance of your home can result in costly repairs. Your home might get damaged by rodents and termites or a number of other issues can crop up, which are usually not covered in your home insurance policy.

Busines Use:  Many people run home-businesses, however these are not typically included in a typical insurance policy. If a client gets injured in your home or you are facing any other business related claim, then you may not get any help from your insurance policy.

Apart from the ones mentioned above, there are many other exclusions from standard coverage. Call your agent and ask about riders for selected risks or umbrella coverage to mitigate pretty much everything else.

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