Does an everything home insurance policy exist?

I'm wondering if there is a house insurance policy that doesn't have tons of texted and loopholes in it. A policy that fits within a couple of sentences to the effect of everything and anything is covered up to such amount with however much deductible.

7 Answers

Relevance
  • Anonymous
    2 months ago

    no..........................

  • 2 months ago

    In 49 states commercial law is covered by the Uniform Commercial Code.  It has lots and lots of loopholes.    For example,  if your diamond ring is covered by loss by fire that only means an unfriendly fire.  If you accidentally drop it into the fire place that is a friendly fire and they do not have to pay.   In Louisiana contract law is covered by the Napoleonic Code.   If the policy says your ring is covered for fire loss it does not matter what kind of fire,  it is covered.   Unfortunately lawyers down there have started playing games too.   The ONLY way to have an everything policy is to have a policy that LISTS everything.    Of course then they will depreciate stuff on you and screw you that way.  

  • fcas80
    Lv 7
    2 months ago

    No policy covers everything.  For example, it will not cover your own deliberate actions such as arson.  It will not cover things like wear and tear that are gradual and that everyone has.  It will not be a couple of sentences either.  Good try.

  • car253
    Lv 7
    2 months ago

    most homeowners policies cover basically the same things, fire, theft of your personal property and certain types of water damage caused by pipes breaking, water heater breaking, but not the cost of those items but pays for the damage that the water causes.    Flood is  a separate policy usually covered under FEMA.    And, earthquake is also a separate policy usually covered by California earthquake authority in California. 

  • What do you think of the answers? You can sign in to give your opinion on the answer.
  • 2 months ago

    No.

    No house insurance policy covers everything.

    No house insurance policies cover damage to your car (that is covered only by your car insurance).

    House insurance doesn't cover flood (you can get flood insurance in some places).

    Homeowner's insurance only covers a home in which the owner lives; it does not cover rental homes or vacant homes.

    There is insurance for rental homes, but one policy won't cover everything; the landlord and the tenant each need their own insurance (the landlord for the building and the tenant for the contents).

    There is insurance for vacant homes, but it only covers fire; it doesn't cover much of anything else, not even vandalism, which is very common in vacant homes.

  • Anonymous
    2 months ago

    The cost would be prohibitive.

  • Anonymous
    2 months ago

    No.   There is no "anything and everything" policy.     In order for the insurance company to make money, the premium would have to be so high that no one would be willing to pay it.

Still have questions? Get answers by asking now.