Many people make the pricey miscalculation of believing that their insurance provider will cover a lot of these repair costs or replacements. But homeowners insurance pays for losses or damages incurred from unforeseen occurrences. There are actually five meanings stated in OED's entry for that verb cinch. See ‘Meaning & use’ https://appc.cctvdgrw.com/home.php?mod=space&uid=1565769