Your homeowners insurance policy can pay for repairs or replacement in a wide range of circumstances. In some cases, your insurer will compensate you if your air conditioner gets damaged. The type of AC you have and the specific terms of your policy will affect your coverage.
Why Your Type of Air Conditioner Is Important
A homeowners insurance policy is divided into sections that apply to different types of losses. Each portion of a policy has its own coverage limit.
Your policy’s dwelling coverage can apply if your home or a permanent feature is damaged. If you have central air conditioning that’s built into the house and it gets damaged by a covered peril, the dwelling coverage portion of your policy can pay for the cost of repairs or replacement.
If you have an air conditioning unit that sits in a window, it’s a personal possession, not a permanent part of the house. If that type of AC gets damaged by a covered peril, the personal property portion of your homeowners insurance policy can cover the cost to have it repaired or replaced.
How the Source of Damage Can Affect Your Coverage
A homeowners insurance policy covers sudden and unforeseen problems. For example, it will compensate you if you suffer a loss due to a storm, a fallen tree, or a fire. Some policies only cover a specific list of perils, while other policies will cover a loss that’s caused by any peril that isn’t specifically excluded.
Homeowners insurance doesn’t cover damage due to regular wear and tear or neglected maintenance. You’re responsible for having your home’s HVAC system inspected regularly, replacing filters as recommended and performing other routine maintenance. If you don’t properly care for your air conditioner, or if it simply wears out over time and finally stops working, the cost to have it repaired or replaced will be your responsibility.
Review Your Homeowners Insurance Policy
It’s a good idea to familiarize yourself with your homeowners insurance policy so you know what it does and doesn’t cover before you encounter a problem. When you look at the specific terms and exclusions in your policy, you might realize that it doesn’t cover something that you thought it did, or you might decide to raise your coverage limits for one or more portions of the policy.
If you have questions about what your policy covers, or if you think you might need additional coverage, contact your insurance company or agent. Broadening your coverage can give you extra peace of mind. It can also increase your premiums, but you might learn that you’re eligible for money-saving discounts. If you request quotes from several insurance companies, you might be able to find the additional coverage that you need at a price that’s not much higher than what you’re currently paying.
