Sometimes, purchasing a home does not go as planned. Long after the home inspection is done, after closing day when you start to move into the property, you can find surprises. Some surprises are minor, but others can have a significant impact to living in the home.

The Surprises that Come with Homeownership

The excitement of a new home is high when you start to unpack and live in the house you have purchased. As you spend more time in the space, you start to notice the quirks of your home. These things are hard to identify when you go to a showing or have a home inspection as you only visit for a short time. A few common home quirks include:

• Unlevel floors
• Unusual sounds
• Doors that don’t close properly
• Double pole light switches that don’t function

Where it can become a challenge is when you discover significant issues that impact your quality of life in the home such as:

• Severe sewage line block that backs up into your home
• Sump pump failure
• Holes or damage to the roof leaking into the home
• Attic rain

Home Insurance Coverage Might Not Apply

The purchase of a home and the obligations that come with the real estate contract are not covered under a home insurance policy. The contract you enter to purchase a home is considered a business decision, any breaches of that contract are between the parties to the transaction, the buyer and seller.

Home insurance is typically required as part of your mortgage agreement. Your insurance broker will help you evaluate your home and the unique risks you have. However, your insurance wordings typically exclude coverage for pre-existing conditions. That means you would not be able to make an insurance claim for any issue in your home that existed before you owned it.

As it stands, purchasing insurance cannot protect you for incidents that occurred in the past.  On the other hand, your policy responds to new, sudden and accidental events caused by a covered peril. Once you own the home, your insurance policy can protect you.

Any time you have questions about your coverage, you can reach out to your insurance broker. They can walk you through your policy and advise you on what might be covered and what might not be.