6 Common Gaps in Homeowner’s Insurance – Are You at Risk?

house catastrophe

In an area as diverse as Frisco, it’s hard to find a few things (beyond zip codes) that everyone has in common. But one thing that every Frisco homeowner likely has in common with their neighbors? Insurance.

Homeowner’s insurance is a pretty substantial portion of the household budgets for many of us. Would it give you a bit more peace of mind to better understand what all of the vague wording in that giant policy actually means?

Imagine how frustrating it would be to have a catastrophe, and after paying all of those premiums, realize that you weren’t covered appropriately?

Common Gaps in Coverage

Ann Anderson from Anderson Insurance Agency in Frisco considers education part of her mission. She knows that insurance and trust go hand in hand and is determined to help her clients be as informed as possible so that they can protect themselves as effectively as possible.

So what are common gaps in homeowner’s insurance that Anderson cautions homeowners in Frisco to consider?

Dwelling Coverage

A gap in dwelling coverage may be one of the biggest pitfalls of homeowner’s insurance. Most homeowner policies have some kind of dwelling coverage (the coverage that will provide the money for you to rebuild your home in the case of a total loss as a result of a catastrophic event), but many homeowners have a gap bewteen the amount of money the insurance policy would provide them and what the actual cost of rebuilding their home would be.

Especially as markets fluctuate rapidly, it’s important to talk to your agent and make sure that your home’s actual replacement worth is covered under your policy.

Personal Property Coverage

Valuable items may not necessarily be covered under your current homeowner’s policy. Anderson notes a good rule of thumb:  

If losing it in a fire or to theft would be devastating, talk to your insurance agent about options. It never hurts to be informed.

Homeowners may not consider the actual value of sentimental pieces or heirlooms, but family antiques, books, jewelry, or china may be worth quite a bit. Don’t be afraid to talk to your agent about specific items – better to be over-prepared!


Although most home insurance contains some liability coverage, many policies don’t provide sufficient coverage for common accidents. Dog bites, for instance, are among some of the most common liability claims, but if your dog is involved in an incident, you may not be covered. Talking to your agent about your array of factors is always a good idea.

Water damage

When water damage is mentioned, most homeowners think about the kind of flooding that occurs after heavy rains or during hurricanes. But sewer backups, pump failures, and general accidental negligence can cause thousands of dollars worth of water damage to your home.

house fireIn fact, a sewer backup is a far more likely catastrophe than a flood caused by rising water outside. No one likes to think about a city sewer failure but a sewer backup can rapidly destroy a home.

Ask your agent lots of questions about your water damage coverage to ensure that you’re appropriately protected.

Wind Damage

Did you know that Dallas is one of America’s windiest cities? It’s even windier than Chicago. Homeowners in Frisco should also know that wind damage is one of the most common gaps in homeowner’s insurance. While a home may be covered for hail or a tornado, high winds are more common than both and potentially more devastating.

Home based businesses

As more and more people opt to work for themselves or out of their homes, an alarming gap in homeowner’s insurance has become more common. Supplies, space, or events that occur while you are working for or on your business may not be covered under your policy.

Talk to your agent or someone knowledgeable in the perils of self-employment like Anderson to make sure that your home and business are both sufficiently covered in case of a crisis.

Insurance and Trust Go Hand in Hand


Ann Anderson of Anderson Insurance Agency

Are you frustrated by your agent’s inability to answer or impatience with detailed and extensive questions? Do you feel uninformed?

Ann Anderson is passionate about truly informing her clients so that they can make decisions that best serve themselves and their families. As a Frisco resident, she truly considers her work a neighborly mission. Maybe it’s time to set up a meeting with someone who understands your specific risks and needs and who deeply cares about this community.