After the “snow-nami” has walloped the East Coast over the last week, many homeowners have been concerned with damage caused by snow – and they should be since the Insurance Information Institute (I.I.I.) says winter storms cause $1 billion in annual property damage. What’s interesting, however, is that depending on the type of damage a storm causes, you may or may not be covered by your homeowners insurance policy.
Why Your Homeowners Policy May Not Cover Everything
While your homeowners insurance policy covers a lot, it doesn’t cover everything. For instance, earthquakes are not covered in a standard homeowners policy, and neither are floods.