Don’t find out your homeowner’s insurance doesn’t cover something when it’s too late.
Homeowners insurance is meant to provide financial protection in the event that your home or its contents are damaged. It can also provide protection if you or a family member is deemed liable for injuries to others or damage to their property. Most mortgage lenders require homeowner’s insurance.
There are various types of homeowner’s insurance policies, ranging from basic policies to those that offer much more broad protection.
What’s covered and what’s not?
Most homeowner’s policies will cover damages from fire, hail, lightning, theft, windstorms, vandalism or theft. Often, earthquakes and floods are excluded from standard homeowner’s insurance policies. Homeowners are always able to purchase supplemental insurance to cover those perils that are not covered by basic homeowner’s insurance.
What is usually covered:
- Personal Property Coverage: Reimburses you for personal items in your home that may be damaged or destroyed during a covered event. This could include clothes, furniture, electronics and sporting goods.
- Loss of Use Coverage: Pays additional living expenses that may arise if you’re forced to move out of your home while it’s being repaired.
- Liability Insurance: Helps to protect your assets and cover legal fees in the event of a lawsuit due to you or one of your family members causing injury to others or their property.
- Dwelling Coverage: Coverage pays to rebuild your home if damaged by a covered type of loss. This includes the actual renovation costs including plumbing, electrical work and air conditioning repairs. It’s important to purchase enough dwelling coverage to cover the cost to rebuild your home in today’s dollars.
- Other Structures Coverage: Coverage can cover detached structures like sheds, garages and fences on your property.
- Additional Home Coverages: There are a number of additional coverages that can be added to your homeowner’s policy. Learn more about Avante’s optional home coverages.
Unsure of what’s covered in your homeowner’s insurance policy?
If you’re still unsure about what is actually covered by your current homeowner’s policy, it’s important to contact your insurance agent and discuss your policy to ensure your insurance needs are being met and that you’ll be protected in the event of a loss.
If you’re interested in learning more about the wide range of homeowner’s insurance options at Avante Insurance feel free to contact our team of licensed and experienced insurance agents today at 305-648-7070 or simply request a quote.