EXCLUSIONS
Part Two

What's Not Covered?

Your home may or may not be your castle, but it is more than likely to be your single largest asset. So it can be somewhat disconcerting when you insure your home, that the policy comes with a list of exposures that are "not covered", in fact they are specifically excluded.

It might be wise to take a moment to examine the exclusions. You will find that some of the exposures are highly unlikely to occur, and others simply cannot be insured.

For instance...
Flood For example, it is unlikely that flood coverage would be a concern, unless you live in a coastal area.
Nuclear Disaster Although a real possibility, it is a type of coverage for which insurance cannot be developed for the damage cannot be quantified.
Below is a list of other exclusions that are found in the typical homeowners insurance policy. If you spot an exclusion that concerns you, call your agent!!
Property Exclusions
Liability Exclusions
Freezing Water in an Unoccupied House Aircraft
Earthquake Liability for Dependent Care
Earth Movement Directors Liability (Except not-for-profit)
Faulty Construction Intentional Acts
Neglect Discrimination
Structural Movement Parental Liability
Intentional Acts Non-permissive Use
Gradual Loss Workers Compensation Exposure
Acts of War Damage to Property in your Care or Custody
Watercraft Motorized Land Vehicles (Auto)
Wear & Tear Abuse/Molestation
Contamination Large Watercraft (over 26 ft )
Loss by Animals Financial Guarantees/Contractual Liability
Misappropriation Acts of War
Business Property Business Pursuits/Professional Services
The list of exclusions for the traditional homeowners insurance policy is an extremely long list of exposures that are not covered. Our goal is not to alarm you, but instead to give you the opportunity to examine the exposures not covered under your current policy, to be certain that you are not surprised in the event a loss ever occurs to your home.
Estate Planning ........ ....(George W. Bush's Tax Relief Act)
With all the changes that will impact estate taxes, and ultimately estate planning, you might be wise to discuss a "disclaimer trust" with your attorney. A disclaimer trust will give your beneficiaries choices to exercise that are first tax wise and second appropriate for their future. A disclaimer trust will have significant value during and after, George W's tax relief.
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Greenwich, CT 06830
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