Types of Home Insurance Coverage
Within a home insurance policy, the following coverages can help ensure that your home and assets are adequately protected:
- Dwelling coverage can pay to repair or rebuild your home if damaged by a covered cause of loss. You will likely want to buy enough dwelling coverage to cover the estimated cost to repair or rebuild.
- Other structures coverage can pay for covered damages to detached structures like garages, sheds, and fences on your property.
- Personal property coverage can pay you for the personal items in your home that may be damaged or destroyed by a covered cause of loss, which could include your furniture, clothes, sporting goods, and electronics. Special limits of liability may apply to certain items.
- Loss-of-use coverage can pay your additional living expenses if you must move out of your home temporarily while it’s being restored.
- Personal liability coverage can help protect you in the event of a claim and can provide a defense in the event of a lawsuit if you or a member of your household is responsible for causing bodily injury or property damage to others.
What Isn’t Covered by Home Insurance?
While homeowner’s insurance covers most scenarios where a loss could occur, natural disasters such as floods and earthquakes are typically excluded from policies. You may want to consider additional coverage or extra policies for these events. There’s also sewer and drain backup coverage you can add on, and even identity recovery coverage that reimburses you for expenses related to being a victim of identity theft.
Because the list of exclusions keeps expanding, we will review your policy each year to ensure that you are properly covered. Knowing what is and isn’t covered can make all the difference in the world.
Combine Additional Coverages to Maximize Savings