As a basic form of protection, your homeowners insurance covers many things. Unfortunately, there are many things that it may not cover as well. There's a lot of misinformation out there about what homeowners insurance should and shouldn't cover. Here's a selection of a few things it probably doesn't pay out for.

Pests are Your Responsibility

It's understandable that a rodent or insect problem falls on you to deal with. But what about actual damage to your home? Termites can cause real structural damage after all, and so can many rodents. Unfortunately, in most cases, your homeowners policy will not cover damage caused by pests and rodents.

Your Pets, Your Property, Your Problem

If you own a pet or three, your homeowners insurance usually provides some liability protection. This liability can protect you if one of your pets bites someone. But if your pets damage or destroy your property, or bit you, then your homeowners insurance will probably not help you. Also, it's possible that your insurance will not kick in if the insurer finds that your particular breed of animal falls under a list of aggressive breeds.

Define "Flood"

Yes, your homeowners insurance will typically cover some types of water damage, but not all. Generally, if the water came from outside of the home, then you probably are not covered. That includes backups from town sewers as well as sump pump malfunctions.

It might also include outright flooding caused by a malfunctioning appliance. Conversely, the opposite can also be true when it comes to appliances. For example, if a broken hose on your washer machine or dishwasher causes water damage, it's possible that you're covered for the water damage, but not for the repair of the appliance.

If the appliance was malfunctioning for a long time and the insurance company feels it was a preventable problem, then they may not cover you for anything. For natural flooding, and flooding from outside, you should consider separate flood insurance.

Pay Attention and Ask Questions

There are many more things that your insurance may not cover that you assume it does. That's why it's important for you to pay close attention to your policy. Go over each point, and make a list of the things that aren't explicitly stated that you want clarification on. You will likely need additional coverage in the form of an HO2 or HO3 policy.

Not all insurers utilize the same types of policies. So don't assume that just because one group covers something, another group will cover the same thing in the same way.

Speak to your agent openly about any concerns you have. If you need a point clarified, then ask. Your agent should have no problem explaining any of your coverage to you. Homeowners insurance is great, but the things it doesn't cover can catch you by surprise.