Why Do You Need Homeowners Insurance?
Good question. Your home is your castle and for many people this means insuring their largest asset. Homeowners insurance provides protection for you and your family for a multitude of both property and liability coverages in one package policy. There are different kinds of homeowners policies, and some insurance company policy forms are more comprehensive than others, but they all provide five essential types of coverage.
- Dwelling Coverage for the structure of your home and appurtenant structures
- Personal Property Coverage for your personal belongings
- Loss of Use/Additional Living Expenses in the event you are temporarily unable to live in your home because of a fire or other insured disaster
- Comprehensive Family Liability protection
- Medical Payments to others
You may be eligible for important extras covered at no additional cost:
- Additional living expenses when an insured loss makes your home uninhabitable
- Debris removal after an insured loss
- Reasonable repair costs for necessary repairs to protect your property from further damage after an insured loss
- Coverage for trees, shrubs, plants or lawn destroyed from an insured loss
- Fire department service charge to save or protect your property after an insured loss
- Coverage for forgery and counterfeit money and for unauthorized use of credit cards and fund transfer cards.
You May Also Be Interested In:
- Did You Know That You May Be Entitled to Homeowners Insurance Discounts?
- Definitions of “The Five Essential Types of Homeowner’s Insurance Coverage”
- The Difference Between Market Value and Replacement Cost
The coverage information outlined herein is a guideline only; refer to the actual policies for full terms, conditions, exclusions, and limitations.
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