Your Homeowners Insurance Policy

By Compuquotes Team on March 27th, 2008
Homeowners Insurance

Your Homeowners insurance policy will protect you from almost all types of natural disasters. When a third party lender give you money for a property it usually becomes essential to obtain adequate insurance on the home. This protection not only protects the lender but mainly the homeowner, their home, and the personal valuables inside.

A Homeowners insurance policy has added benefit because it doubles as a package policy offering you protection against any damages caused to the home as well as the legal responsibilities involved.

You can add more coverage with personal liability coverage. This portion of your Homeowners insurance will offer protection against injuries of property damage to another person as a direct result of the policy owner or their family. This protection can also include the family pets so this is a necessity for pet owners. You don't want to get sued for your dog biting the mail man, medical bills are outrageous.

Generally a Homeowners insurance policy will cover loss caused by most disasters except for floods and earthquakes. You can purchase this additional protection through another company if you feel you are at risk.

A Homeowners insurance policy also won't cover any damages that were caused by lack of maintenance. Any maintenance related damages aren't covered in your insurance.

There are many different types of Homeowners insurance that is offered today and usually include four main types of coverage in a standard policy. The main coverage is for the structure of your home. This portion pays for the rebuilding of your home if it were to be damages by fire, hurricane, hail, explosion, or other covered disaster. This portion of your policy can also cover structures not attached to the home such as a garage or shop.

Another portion of your policy offers protection for your personal items such as jewelry, furniture, electronic goods, clothes, and antiques against covered disasters such as theft or fire. Many insurance companies will offer coverage of 50% to 70% of the total amount insured on the home.

One of the most important aspects of a Homeowners insurance company is the personal liability protection. This will protect you in the event that someone sues you for a physical injury or property damage that was caused by the homeowner or his family or pets. Liability protection is special because it follows you anywhere in the world. This liability protection usually starts at about $100,000.

Another protection you can purchase with a Homeowners insurance policy is protection for additional living expenses if their home is rendered uninhabitable. This provides you with the money to pay for restaurant bills, hotel bills, and laundry expenses if your home is severely damages by fire, smoke, theft, or other covered disaster. This money will be provided until the home is safe to live in again. Most Homeowners insurance companies will offer about twenty percent of the insurance on the home.

Your home is the biggest investment you will probably make in your entire life. You should take the necessary steps to protect your home against life's many problems.

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