Do You Have A Good Homeowners Insurance Policy

home owners insurance

Do You Have A Good Homeowners Insurance Policy

You are proud to have a home and would like it to stay safe and secure. Sometimes unfortunate circumstances happen that may be beyond your control. In order to mitigate the losses that may have happened to your house and to your family, insurance companies provide a homeowners insurance policy. These homeowner’s insurance policies are quite standard and can be bought by anyone. In the United States, almost all states have standard homeowners insurance policies. More Information on this website
Therefore a standard homeowner’s insurance policy provides for the financial losses that may happen and provides for benefit of the house and those living in it. Homeowners insurance policy is a package and it protects against:

Damage caused to the property 
The people living inside it that is your family 
Personal injury caused to others and their property 
In fact, it also gives protection to the property that may be damaged because of the house pets. 

Damage that is caused by natural disasters is covered. The most common ones are earthquakes and floods. Though you may have to buy separate policies for both. However, any maintenance-related problems are not covered under the homeowner’s insurance policy. Standard homeowners insurance policy covers the following:
1 Coverage for the structure of your home. 
2 Coverage for your personal belongings. 
3 Liability protection. 
4 Additional living expenses in the event you are temporarily unable to live in your home because of a fire or other insured disaster. 

The structure of the home covers the part of the house, which is destroyed by hail, hurricane, lightning, tree fall, etc., and the expenses that would be entailed in order to repair or rebuild that portion of the house. It however doesn’t cover floods or earthquakes. Other structures that are covered are the patios, gazebo’s garage, and other storage areas that may be detached from the main building. Normally in all standard homeowners’ insurance policies, they are covered for about 10% of the coverage of the house. If however, you need more insurance coverage for these structures also, you should talk to your insurance agent. 

Personal belongings would mean clothing, sports equipment, and other personal items that may be stolen or destroyed by fire. However expensive items such as jewelry are insured up to a dollar amount only. For example, they may be insured up to $2000 or $5000 depending upon the kind of homeowners insurance policy that you take. More here
For expensive goods and gadgets, you can take a separate insurance policy. In fact, gardens, trees, shrubs can also be covered under this policy. Usually, they are covered up to 5% of the insurance of the home.

Liability protection gives you protection against lawsuits that bodily injury or property damage that you or your family members including your household pets may do to others or their property. Liability protection generally starts at $100,000 however you can purchase more.

In this way, you can protect your home and those living inside it with a homeowner’s insurance policy. 

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