MiWay Insurance Exclusions - Read carefully the fine prints before you decide to join them!!!!

Can Anyone perhaps tell me, if All insurance excludes the below? And if so, what exactly do you pay insurance for, if it literally excludes almost every single scenario that could possibly happen to any of your household content? (Are you only insured against 'accidents and fire')?

WHAT AM I NOT COVERED FOR? Any claim for loss, damage, death, injury or liability, which is caused in the process of, by or results from: - gradual deterioration, including rising damp, wear and tear, rust, mildew or fading - servicing, maintenance, cleaning, repairing, restoring, dyeing, bleaching or alteration - mechanical-, electrical- or electronic breakdown, defect or failure