A homeowner’s insurance policy is there to protect you in case disaster strikes. If you have a mortgage, your lender will require hazard insurance before financing your home. The policy protects your investment and the investment your financial institution has in your home. Standard homeowners insurance provides coverage for key areas:
- Your structure
- Your belongings
- Living expenses in case of an insured disaster
This covers the cost to repair or rebuild your home if it is damaged by fire, hail, or other disasters included in your policy. With limits, most standard policies will also cover other structures on your property.
Furniture, clothes, electronics, and other personal items have coverage if they are destroyed in a disaster or if someone steals them. There are limits to coverage, so you will want to know what your policy covers.
If someone sues you, your liability coverage may protect you. This coverage may include bodily injury or property damage caused by you or your family members.
Temporary Living Expenses
When there has been a disaster, you may lose access to your home. Your standard policy covers temporary living expenses and meals with limits.
5 Surprising Benefits of Standard Homeowners Insurance
Your policy may also include coverage for other things that may not be as obvious. Here are five surprising benefits of some standard homeowners insurance policies:
The liability coverage through your standard homeowners insurance policy may offer dog-bite or animal-bite protection. Believe it or not, the average dog bite claim is $37,051 according to the Insurance Information Institute.
It doesn’t happen often, but if something falls from the sky, such as an airplane part, your policy may cover you.
When the power goes out, it can range from a minor inconvenience to a major problem. If the power’s out for an extended period and you must toss out spoiled food in your refrigerator, your policy may also cover the cost of restocking the shelves.
Changing Building Codes
Let’s say you have had an insured disaster, such as a fire, and they’ve passed new laws or building codes since they built your home. Standard homeowners insurance policies may cover the additional costs of meeting the new codes when repairing or rebuilding your home.
If you have a child that lived with you before moving away from school, their personal property may be covered in your homeowners policy when they are a full-time student living away from home. This may also include liability coverage for your student.
Your Homeowners Policy
You want to make sure your homeowners policy is current and it accurately reflects your home’s value. You should check with Absolute Choice Insurance to make sure you have the coverage you need to protect your home, your belongings, and your family. Whether you need homeowner’s insurance for your Miami property, commercial insurance for your small business in Kissimmee, or auto insurance for your car, contact the professionals at Absolute Choice Insurance for a free quote.
Absolute Choice Insurance
Phone: (407) 344-4444