All Florida homeowners with a mortgage are required to obtain a home insurance policy. Although this is not required for people who own their home outright, insurance is certainly recommended for all property owners in the Sarasota and Bradenton areas.
After all, South Florida is known for strong storms, intense rains, and blackouts and brownouts. With so many possibilities for damage, it is important to know what your home insurance policy covers – and what it does not.
Many homeowners are unaware of the exact specifications of their homeowners policy, so it is important to understand if important systems are covered. Ask any Floridian, and they will tell you how important their air conditioning is. In fact, we couldn’t imagine life without it – and when the HVAC system goes down, life becomes very uncomfortable, very quickly.
So, does a homeowner’s policy include HVAC system coverage?
Does a Typical Homeowner’s Policy include HVAC System Coverage?
Appliances in the home are expected to wear out eventually, and a typical homeowners insurance policy will not cover the unit if it is simply at the end of its life. This is known as “wear and tear“, which means that the constant use of the parts will eventually result in the unit’s failure.
Most HVAC units have an expected life of between 10 and 15 years. Necessary replacement parts – up to and including the eventual replacement of the main unit – are not covered by your homeowner’s insurance.
However, accidents are a different story. The outdoor components of your HVAC system unit are susceptible to wind and storm damage, which is generally covered under the typical homeowner’s insurance policy.
Fallen trees and flying debris may strike the unit and cause damage which is considered outside of normal wear and tear. Whether it can be repaired or needs replacement, a property owner would be entitled to payment under their coverage.
Sudden occurrences are also most likely included in your HVAC system coverage. These occurrences include situations such as frozen pipes or damage due to a power surge. Overall, if your unit was damaged or destroyed by an outside event while it is still well within its life expectancy, you are probably covered.
Check Your Policy for HVAC System Coverage
Every insurance company offers policies with varying levels of coverage, different levels of deductibles, and many other variables. Homeowners often look for money-saving opportunities when they secure coverage, and may not be covered for as much as they remember.
It is important to read your policy carefully, and to call an insurance expert if you need clarification on your specific level of coverage for each important system in your home. You do not want to be surprised by a denied claim or too-high deductible at the time of an occurrence.
Important: Many policies make a distinction between window air conditioners (which may be considered personal property) and central HVAC systems. Be sure to have your agent explain the coverage for your particular situation.
If you are new to Manatee County, or simply have not looked at your homeowner’s insurance policy lately, now is an excellent time to review your terms.
If you have any questions, Anderson & Associates Insurance Group is happy to assist you in sorting through your policy. Ask us about ways in which we may be able to save you money and help to best protect your home and family.
