What Is Covered By A Standard Homeowners Policy

by Administrator 14. September 2015 07:27

Homeowners insurance provides protection against the financial liabilities that may incur in the event of unexpected damage to your home. However, the type of coverage provided by most insurance policies may differ. Some may include damage caused by natural disasters like flood, earthquake, theft, vandalism etc. while others may provide compensation for other types of perils.

Here are some of the common coverage options offered by a standard homeowners insurance policy:

  • The structure of your house: This involves the cost of repairing or rebuilding the house following the damage caused due to natural incidents like fire, hurricane, lightning or other disasters covered by your policy. In most cases, homeowners insurance also provides coverage for the structures attached to your home, such as garage, storage shed, patio etc. Usually, these structures account for approximately 10 percent of the total insurance amount.
  • Personal liability protection: The insurance policy provides liability coverage if someone get injured on your property. It also includes damage caused to someone’s property by you or your family members.  In such cases, the policy pays for the medical bills of the injured person as well as the cost of defending yourself in the court, in the event of a lawsuit.
  • Personal belongings: Your homeowners insurance may not only cover your home, but also provide coverage for your personal belongings stored within it. These may include your clothes, jewelry, furniture, electronics etc. that are either damaged or stolen. Some polices also provide an off-premise coverage, i.e. your belongings are covered no matter even when they are somewhere out of the house. It is important that you have an estimate of the approximate value of your personal belongings to purchase a sufficient coverage.
  • Additional living expenses: This covers the costs of living when your house has been damaged to the extent that makes it inhabitable. The homeowners insurance will pay for the expenses of your food, accommodation, transportation and other basic necessities of daily living till your house is rebuilt. Different insurance policies usually have a time or percent limitation in the coverage provided for additional living expenses.

We, at Shawn Camp Insurance Agency, Inc., provide comprehensive homeowners insurance in Killeen, TX. Our agents will help you understand the different coverage options and choose the most suitable policy according to your needs. For more information, you can call us at (254) 526 – 0535 or visit our office at 2705 E. Stan Schlueter Loop, Suite 101, Killeen, Texas 76542.