Your homeowners insurance protects you from facing a catastrophic loss in the event of a named peril, which includes fire, tornadoes, burglary, and more. But does it also cover the contents of your home — for example, your appliances?
The answer is: it depends. If your kitchen appliances are destroyed in a fire, for example, the personal property portion of your policy will cover the loss. But if your refrigerator breaks down one day after ten years of trusty service, you’re probably going to have to pay for repairs yourself.
When does homeowners insurance cover appliances?
The most common type of homeowner policy is called an HO-3 policy, which covers personal property in the event of specific, named disasters. These include the following:
Fire, lightning or smoke damage
It’s easy to see how a kitchen fire could damage your refrigerator or stove. But smoke, too, can cause damage to home systems and appliances, such as air conditioner units and furnaces.
This includes windstorms, hail and the weight of ice, snow or sleet. If a portion of your roof caves in after a large snowfall and crushes your washer and dryer, you should be covered. However, note that flooding is not covered under HO-3 policies — you’d need a separate policy for flood damage.
Although no one likes to think about the possibility, explosions can be caused by either internal or external forces and can do a great deal of damage to your home and its belongings. For example, a gas leak may result in structural damage to the home and your furnace and other appliances……Read More>>