Things covered under home insurance

Things covered under home insurance

The structure of your house: The home insurance policy pays to repair or rebuild the home if it is damaged or destroyed by fire, hurricane, hail, lightening or other disasters that are listed in your policy. When an individual is purchasing the home owner insurance coverage for the structure of your home just remembers this simple thing that you purchase enough coverage to rebuild your home. Most policies cover the detached structures such as the garage, tool shed generally for about 10% of the amount of insurance you have on the structure of your house.

The personal belongings: The furniture, clothes, equipment and all other personal items are covered if they are stolen or destroyed by any of the natural or manmade calamities. The coverage is generally 50 to 70% of the insurance which is given on the structure of your home. Personal belongings cover includes the items which are stored in the premises this means you are covered anywhere in the world. Also expensive items like jewelry, furs, arts, collectibles and silverware are covered in the home insurance

policy. It is necessary to insure these household items to their full and total value purchase.

Liabilities protection: The liabilities cover you against the lawsuits for bodily injuries or the property damage that you or family members have been through. The liability portion of your policy pays for both the cost of defending you in court. It is always a good idea to discuss whether an individual should purchase a higher level of protection with your home insurance policy. If the individual has significant assets or wants more coverage than which is available he should consider purchasing an umbrella or excess liability policy which provides broader cover and includes higher liability limits.

The insurance company provides additional living expenses too. The additional living expenses are the additional costs of living away from home if you cannot live there due to the damage from the manmade or the natural disaster. It covers the hotel bills, the restaurant meals and other costs over and above the usual living expenses while the home is being rebuilt. Keep in mind the additional living expenses coverage in the home insurance policy has limits. However you can generally increase the amount of the additional living expenses on the additional premiums.