Most homeowners feel a sense of relief once they’ve secured an insurance policy, assuming it covers just about anything that might go wrong. However, the truth is that many types of damage fall outside the scope of a standard policy, and not being aware of them can lead to costly surprises. Infinity Insurance Group serving Post Falls, ID, explains.

The Most Common Exclusions

Flooding is one of the most significant gaps in coverage. If heavy rains or rising water from a nearby river enter your home, your standard policy likely won’t cover the damage. To be protected, you’d need separate flood insurance. The same goes for earthquakes and other types of ground movement, like sinkholes. These events are often excluded unless you’ve purchased additional coverage.

Then there are the problems caused by wear and tear. Insurance is meant to cover sudden, accidental damage, not long-term issues. Mold, pest infestations, or damage from slow leaks are usually not covered. If something could have been prevented with routine maintenance, chances are your claim will be denied.

Lesser-Known Gaps to Watch

Standard policies also won’t cover damage from war, nuclear incidents, or government action. While those situations are rare, they’re still listed in many policies as exclusions. Additionally, valuable items such as fine jewelry, rare collectibles, or high-end electronics may not be fully covered unless you’ve scheduled them separately. That means if something happens, your payout could fall short of the item’s true value.

It’s easy to assume your home insurance has you covered no matter what. But policies have limits, and those limits matter. Take time to read the fine print and talk with a licensed agent at Infinity Insurance Group serving Post Falls, ID, who can help you identify gaps. Adjusting your coverage now is a simple step that could make a big difference if disaster ever strikes.

The level of coverage your home insurance policy provides for your home workshop depends on several factors, including whether you use your workshop for profit or hobby purposes and the value of your tools and equipment. Your answers to these key questions determine the coverage you will likely have and the steps to fully insure them. If you need home insurance that suits your needs, contact the Infinity Insurance Group, serving Post Falls, ID.

Hobby or For-Profit Workshop

Home insurance covers personal assets and activities. It does not cover business assets and activities, so if you use a home workshop for business purposes, your home insurance will not cover your workshop assets other than a standard $2,500 in total business assets commonly found in home insurance policies. If you use your tools for business purposes and treat them as business expenses, you should use commercial insurance to protect those assets. If your workshop is used for hobby purposes only, the value of those assets becomes the next consideration.

Home Workshop Value

Home insurance policies include various limits on the amount they cover for various losses. Like the $2,500 limit on business assets, your policy limits the amount it will pay for certain valuables, such as artwork, collectibles, and jewelry. Policies often set similar limits for tools, tool boxes, benches, and cabinets, with some set at $7,500. If you have a valuable workshop, discuss your situation with your agent. You will likely need to inventory the assets, determine their value, and buy a rider that extends your home insurance coverage.

Get The Infinity Insurance Group Difference

The Infinity Insurance Group team, serving Post Falls, ID, will structure an insurance plan that suits your needs. Call (208) 773-7531 to call our office today for an appointment.

As wildfires become increasingly frequent and severe due to climate change in Post Falls, ID, homeowners face growing challenges in securing adequate insurance coverage. In response, governments are introducing legislation to address these risks and protect consumers. These changes are reshaping the landscape of home insurance, influencing policy availability, premiums, and coverage options for wildfire-prone areas.

Exploring Expanded Coverage Requirements

In many regions, legislators push for reforms requiring insurers to offer coverage in high-risk wildfire zones. This ensures that homeowners in vulnerable areas have options but raises concerns about affordability. Governments may introduce reinsurance programs or subsidies to offset the financial strain on insurers to share the risk burden and stabilize the market.

The Importance of Mitigation Efforts

Legislation increasingly ties wildfire coverage to mitigation measures. Homeowners who implement fire-resistant construction materials, maintain defensible space, and follow other safety guidelines may qualify for lower premiums or guaranteed coverage. These incentives encourage proactive risk reduction, benefiting both homeowners and insurers.

Addressing Challenges for the Insurance Industry

Despite legislative efforts, insurers face mounting challenges in sustaining profitability as wildfire claims surge. Companies have sometimes withdrawn from high-risk areas, prompting governments to intervene with regulations or establish state-run insurance pools. These measures aim to balance the need for affordable coverage with the financial realities of insuring wildfire-prone properties.

Navigating a Changing Landscape for Homeowners

For homeowners, staying informed about evolving legislation and taking steps to mitigate wildfire risks is crucial. Understanding how new laws affect insurance policies can help them secure comprehensive coverage and avoid unexpected gaps.

Contact Infinity Insurance Group for Your Insurance Needs

Infinity Insurance Group underwrites policies to meet customers’ needs. We serve Post Falls, ID, and the surrounding cities. Contact us today.