Your homeowner’s insurance may not always cover as much as you think.

In the event that your home is involved in a disaster of some kind and is damaged or destroyed, the last thing you want to find out is that your homeowner’s insurance won’t cover the damage. If you own a home, chances are you have been paying your insurance policies for years so it would be a very unpleasant surprise to find out that your insurance won’t pay when you need it. Unfortunately, this is sometimes the case.

There can be holes in your insurance policy that are often spelled out in the fine print. If you’re not aware of some of these wholes and you have an emergency, you may end up paying much of the costs out of pocket.

Damages from flood are seldom covered in standard insurance policies. Homeowners who want flood protection can get it through FEMA’s national flood insurance program. Earthquake coverage is another often assumed protection. Homeowners who live in known earthquake zones should look into earthquake insurance.

Watch your deductibles. According to the Consumer Federation of America, deductibles have been increasing. What that means is homeowner’s will need to pay more out of pocket before their insurance coverage kicks in.

The term “anti-concurrent causation” is a technical name given when two events happen at the same time and you are not covered for damages caused by one. In this case, your policy may not cover damage from either event. This could be very expensive for the homeowner if flood and wind damage occur during the same event.

Most homeowner’s assume they are covered for the full cost of rebuilding. This may not always be the case. Most insurance policies have caps, which means they might not cover the cost of a total rebuild. When you’re setting up your policy, you should check on the cap, and calculate whether that amount would cover the cost of a total rebuild.