Home insurance is vital to protect the roof over your family's head and its financial footing. And for most homeowners, home insurance is a 'one size fits all' purchase that they expect will cover all their needs. 

But home insurance may not cover everything you need unless you know what additional protections to ask for. Here are five such special situations you may want to discuss with your agent.

Flood. Most standard home insurance policies will only cover water damage in very specific manners. It will likely cover storm damage from wind that damages a roof, for example, but generally does not include water that floods up from the ground. If you live in an area that may be prone to flooding or a moist climate, you may need to purchase additional flood coverage. In addition, check with your agent about how flooding from sewer backup emergencies are covered. 

Collections. If you collect something of high value, such as jewelry or artwork, you may have a limitation on coverage of these specific items that doesn't protect them enough. Have any high value collectible or artistic items appraised so you know how much additional insurance you need to restore or replace them in the event of a loss. 

Pool. If you own a backyard pool, you should have safety measures installed to mitigate the risk it can pose. But check your insurance policy's details as to how it is covered. A pool is often considered an 'attractive nuisance' and may be specifically limited in it protection.

Business. Do you run a home-based business? Then you may have additional equipment, records, vehicles, or individuals on your property in order to run your business. These types of business activities may or may not be completely covered by standard home insurance. Discuss with your agent whether you need specific insurance such as cyber insurance, business liability, or added riders to cover expensive equipment pieces. 

Animals. Your dog is part of the family, but you should still discuss the risk it may pose to your finances. If you have a large breed, for instance, protection for dog bites may be limited in your standard insurance policy. Talk with your agent about all animals on the property, especially if they produce any income (such as show animals or breeding stock). In addition to covering the risk of them damaging other things, you may need to cover the potential value of losing them. 

Insurance coverage is all about planning ahead. And by assessing what your home's actual risk may entail, you can help craft a policy that really protects you and your wallet best. For more information, contact Accredited Insurance Group Inc. 

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