Most likely your home insurance policy covers the basic four areas that all plans will protect you for. In other words, any damage that is caused by weather, for example, to your home or other structure on your property will be covered. Also, should the unfortunate event of someone being injured or even dieing on your property occur, you will be covered against any consequent lawsuits. If any of your home's contents are damaged or stolen in a burglary you will be covered to replace them and finally, should you be put out of your home for a period of time due to a fire, say, you would be covered for the extra expenses involved.

As with most financial matters, home insurance is usually not as simple as this and it pays to read the small print of your policy. You are almost certain to find one or more loopholes that may mean certain events are not covered in the basic outline above. So, what are the common loopholes that you need to look out for?

A very common example of a home insurance loophole concerns the coverage relating to the building structures on your property. Perhaps you discover that termites have destroyed the foundation of your house and it needs repaired. This will not be cheap and so home insurance providers may be reluctant to cover the cost, as they will argue that the termites were probably there prior to the insurance deal being agreed.

If you live in an area that is prone to natural disasters such as hurricanes and floods then th next loophole we discuss will be of interest to you. Especially since the huge disaster of Hurricane Katrina, basic home insurance coverage will not be enough to protect your home and its belongings against the effects of acts of God. You will probably need to pay extra for this, even more so if you do live in a high-risk part of the country. Interestingly, if your home is flooded due to bad weather then you will not be eligible to make a claim but if the flood is caused by burst pipes then you would be.

Many people are caught off-guard when a natural disaster occurs, so it pays to read the small print and, if necessary, take out additional cover to prevent heartache later on.

Andrew McNaught is a successful webmaster and publisher of Home Insurance Info where you can find out more about home insurance loopholes.

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