What Does Exclusions in Homeowner's Insurance Mean?
Exclusions in homeowner's insurance refers to any gaps in coverage for a homeowner's policy. A homeowner's insurance coverage may exclude coverage for certain things because it either deems the peril as too likely to occur or because it has another reason for not covering it. Either way, losses incurred for exclusions in homeowner's insurance will not be reimbursed by the insurer.
Insuranceopedia Explains Exclusions in Homeowner's Insurance
There are a wide range of possible exclusions for a homeowner's policy. For example, acts of war, general wear and tear, sudden property value downward shifts, floods, and nuclear disaster damage are all things that may not be covered by a standard homeowner's policy. In addition, certain other perils may only be covered some of the time. Otherwise, they may be excluded. Mold is one of these perils. The circumstance in which the mold accumulates often determines whether or not it is covered or excluded.