Slideshow February 17, 2025 at 08:51 AM
With U.S. homeowners already paying higher insurance premiums in 2025, the average cost of household goods spiked again in January.
Myth 1. All water losses to my home are covered.
If a pipe bursts in your kitchen or rain comes in through a wind-damaged roof, you are covered. Unfortunately for Oregonians, most policies exclude damage for:- Flood (including surface water, waves, tidal water, overflow of a body of water, or spray from any of these). Flood insurance is available through the National Flood Insurance Program. Ask your insurance company for information.
- Water or waterborne material that backs up through sewers or drains. Most insurance companies provide limited coverage for an additional premium; ask for more information on coverage and cost.
- Below-ground water or waterborne material (including water that exerts pressure on or leaks through a building, sidewalk, driveway, foundation, or other structure). Since this is not covered, you should regularly inspect gutters, downspouts, drainage systems, and outdoor irrigation systems to prevent this type of loss.
Myth 2. My insurance company can’t refuse to insure me because of the breed of dog that I own.
Actually, it can. Dog bite claims can be quite expensive. Some insurers choose not to provide insurance to homeowners who own a breed with a history that suggests a dog bite claim is more likely.
(Credit: Luxorpictures/Shutterstock.com)
Myth 3. If my neighbor’s tree falls on my house, his insurance will pay for the repairs.
Maybe. If your neighbor knew (or should have known) that the tree was dying or there was a reasonable chance it would fall, then his insurance would pay.However, if a windstorm blows over a perfectly healthy tree, your neighbor’s insurance company may deny your claim because your neighbor did nothing wrong to cause your loss. In that case, your own policy would cover the damage after you pay your deductible.
(Credit: ALAN/Adobe Stock)
