Homeowners Insurance

When you own a home or other property, you want to protect it. Homeowner’s insurance is a type of coverage that will cover damage or total loss to your home and the property that is covered. No matter what disaster has affected your home, chances are that your coverage can take care of the costs.

No matter what size of home that you own, home insurance is a necessity. Whether town home, condo, big home, or small home, you want to have this type of coverage to cover not only the home itself, but also the items that are inside, the cost of having to stay somewhere else if the home is unlivable, and liability coverage if someone is injured or killed on your property. A typical homeowner’s policy will include property damage coverage in addition to liability coverage.

Homeowner’s coverage is a contract between you, as the home’s owner, and the insurance company. The cost of coverage will vary depending upon your home and the costs that would be associated with repairing or rebuilding, as well as replacing your belongings and furnishings. A basic policy does not cover certain eventualities, however, including earthquakes and flooding. These events dictate additional coverage that can be added on to your homeowner’s policy.
Normally, the insurance premiums are paid for in a 6-month or 1-year segment, rather than month to month, but there are those companies that do offer a month-to-month plan. If an event occurs, you file a claim and the insurance company will evaluate it and assess the damages to your home. They will then come to a decision regarding whether they will have it repaired or replaced entirely.

Coverage Types

There are basically 5 damage types that are covered by homeowner’s insurance. These include damage to the house or dwelling, damage to property structures, personal property on or in the property, loss of use of the home and living expenses associated with this. Other coverage is also available, including coverage from tree damage, identity theft, and even normal repairs.

The peace of mind offered to a homeowner that knows that their home is protected is priceless. A home, no matter what the size, can be a significant investment and by taking care of it with regular maintenance and covering it with insurance, you can ensure that you can enjoy it for many years to come.