by Administrator
21. July 2014 12:26
Homeowners insurance is vital for the security of your home and to safeguard your financial investment. A standard homeowners insurance policy offers an array of coverage including coverage for the structure of your home, your belongings, liability protection and other expenses in case of an unfortunate incident. All your personal belongings and investment are secure with the appropriate homeowners insurance. Even if you are renting out your property to someone you still need homeowner insurance that covers any reimburses for the rent that you would have collected from your tenant in case of damages to the home. Here are some of the broad categories covered under a homeowner’s insurance policy.
- Structure of the house: The policy covers any repair or rebuilding expenses that maybe required in case of destruction or damage to property during fire, hailstorm, hurricane, lighting or any other disasters. The insurance also offers coverage for detachable structures such as tool shed, garage, etc and by discussing your needs with your insurance provider you can get more options and detailed coverage.
- Your personal belongings: The homeowner insurance plans often cover the personal belongings in the home including your clothes, furniture, personal and expensive items. To insure the expensive items to its appraised value, you should purchase personal property endorsement plan, which also includes coverage in case these items are lost. The standard homeowners insurance also covers trees, shrubs, and plants though it doesn’t cover damages due to disease.
- Additional living expenses: The homeowners insurance pays for any costs of living in case the current house in not livable. The house may get damaged due to fire, storm or any other insured disaster. In such case, the insurance covers hotel bills, restaurant meals and other expenses incurred while your house is rebuilt. The coverage for additional living expenses varies from company to company and by paying an additional premium, you can have additional coverage.
- Liability protection: The home insurance covers any lawsuits for bodily injuries or property damage that occurs to any one at your home which also includes any injuries to your pet. Any damages to your neighbors due to your actions are also covered. The home insurance covers no-fault medical bills and the costs of defending you in court along with any court awards.
For more details on home owners insurance coverage, you can consult with agents at Shawn Camp Insurance Agency, Inc. You can call us at (254) 526-0535.
