The Hidden Costs of Homeownership: What Your Home Insurance Won’t Cover

When David and Rachel bought their first home in Oklahoma City, they thought their homeowners insurance would cover just about anything that went wrong. A year later, their water heater burst, flooding the basement. Confident their policy would handle it, they called their insurance company—only to learn that damage from maintenance-related issues wasn’t covered. They were left paying thousands of dollars out of pocket.
Many Oklahoma homeowners assume their insurance will step in whenever disaster strikes. Unfortunately, standard homeowners insurance has exclusions, and learning about them the hard way can be expensive. Let’s look at some of the most common coverage gaps and how you can protect yourself from costly surprises.

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General Wear and Tear

Home insurance is designed to protect against sudden and unexpected events, not gradual deterioration over time. That means normal wear and tear isn’t covered. If your roof starts leaking due to old age, or your siding warps from years of sun exposure, you’ll likely have to cover those repairs yourself.
What You Can Do:

• Keep up with regular home maintenance, including roof inspections and HVAC servicing.
• Set aside an emergency fund for home repairs.
• Consider a home warranty for coverage on aging appliances and systems.

Foundation Issues

Oklahoma’s shifting soil can lead to foundation cracks and structural problems. Many homeowners assume their policy will cover this, but most standard insurance excludes damage from settling, soil movement, and gradual foundation shifting.
What You Can Do:

• Look into a separate foundation repair policy if your home is at risk.
• Keep gutters clean and direct water away from your foundation.
• Watch for early warning signs like cracks in walls and uneven floors.

Flood Damage

Oklahoma City homeowners might not think they need flood insurance, but heavy rains and flash floods happen. Standard homeowners insurance doesn’t cover flood damage, meaning you’ll need a separate policy through the National Flood Insurance Program (NFIP) or a private insurer.
What You Can Do:

• Check if your home is in a flood-prone area and assess your risk.
• Consider purchasing a flood insurance policy.
• Improve drainage around your home with landscaping or sump pumps.

Earthquake Damage

Although Oklahoma isn’t California, earthquakes have become more common in recent years. Unfortunately, most homeowners policies exclude earthquake damage, leaving homeowners unprotected if a tremor causes structural damage.
What You Can Do:

• Purchase an earthquake insurance endorsement or a separate policy.
• Secure heavy furniture and appliances to prevent damage during minor tremors.
• Reinforce your home’s foundation if necessary.

Mold and Pest Infestations

Mold and pests, such as termites, can cause extensive damage, but these issues typically aren’t covered by homeowners insurance. Insurers see them as preventable problems that result from neglect or lack of maintenance.
What You Can Do:

• Regularly inspect your home for leaks, damp areas, and pest activity.
• Address any moisture issues quickly to prevent mold growth.
• Schedule annual pest inspections and treat problem areas as needed.

Sewer and Drain Backup

A backed-up sewer line can lead to thousands of dollars in water damage, yet most standard homeowners policies don’t cover this type of incident unless you have an additional endorsement.
What You Can Do:

• Add a water backup endorsement to your policy.
• Install a backflow prevention valve in your plumbing system.
• Avoid flushing anything other than toilet paper to prevent clogs.

Luxury Items and High-Value Possessions

If you own expensive jewelry, collectibles, or high-end electronics, your standard policy may not fully cover them. Homeowners insurance has limits on personal property coverage, meaning you may need additional protection.
What You Can Do:

• Take an inventory of valuable items and their worth.
• Add a scheduled personal property endorsement for high-value items.
• Store valuable possessions in a safe or secure location.

​Business Equipment for Home-Based Businesses

More people in Oklahoma City are working from home, but standard homeowners insurance doesn’t cover business-related equipment, such as computers or specialized tools. If a fire or theft occurs, you may not be able to recover the loss under your home policy.
What You Can Do:

• Consider a home-based business insurance policy or rider.
• Store expensive business equipment securely.
• Check if your employer provides coverage for remote work equipment.

Trampoline and Pool Liability Risks

Trampolines and swimming pools are great for family fun but can be seen as an "attractive nuisance" by insurance providers. Some policies may exclude liability coverage for injuries related to these items, or they may require you to install safety measures.
What You Can Do:

• Inform your insurance company if you add a trampoline or pool.
• Install a fence and safety features like a pool cover or netting.
• Consider additional liability coverage to protect against injury claims.

Why Updating Your Homeowners Insurance Matters

Many Oklahoma City homeowners make upgrades to their homes but forget to update their insurance. Whether you’ve added a home office, finished a basement, or upgraded your roof, failing to inform your insurer can lead to gaps in coverage or even denied claims.
What You Can Do:

• Review your policy annually and update it after any major home improvements.
• Work with a knowledgeable insurance agent to make sure you have the right level of coverage.
• Keep records and receipts for all home upgrades and improvements.

Protect Your Home With the Right Coverage

Owning a home in Oklahoma City means being prepared for anything, from severe weather to unexpected repairs. The last thing you want is to discover too late that your homeowners insurance doesn’t cover certain damages.
Oklahoma Insurance Professionals helps homeowners in Oklahoma City, Edmond, Norman, and surrounding areas get the right coverage for their needs. If you have questions about what your policy includes or need additional protection, we’re here to help. Contact us today to review your policy and ensure your home is fully protected.

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Scott Godwin
Founder

Oklahoma Insurance Professionals LLC serves Oklahoma City and the surrounding Oklahoma communities by protecting the people we work with just like we protect our own family members. Home insurance, auto insurance, business insurance, and more. We can help you find the coverage you need. ​​