What does home insurance cover? In this article, find out what exactly is covered on a homeowners insurance policy and how it helps you in the unfortunate event that something happens to your home.
Homeowners insurance is a critical part of owning a home, but what does it actually cover in the event that you need to file a claim? Many people are unaware that most home insurance policies have precise language about what the insurance company will pay for in case of damage to your home.
To make things easier for you, we have compiled some of the common items that are covered and one that usually is not.
Dwelling and Other Structures
Covered items vary by policy, but many policies include your home and other structures on your property. This often includes outbuildings on the property (such as a garage), walking surfaces (such as steps or a porch), and detached structures that are not attached to the main dwelling structure (such as a shed).
Because each policy is unique, you should read your policy to determine what is included under your coverage.
Personal property is what you would find inside a home. This includes furniture, electronics, appliances, and other items. Your homeowner’s insurance policy will cover any damage to personal property under a covered loss. For instance, if your roof leaks and water damages the collectibles you keep in the attic, your policy would cover that loss.
Loss of Use
What happens if your home becomes uninhabitable? Do you know where you would stay? Would you have to pay for a place to stay out of pocket? If your policy contains a loss of use clause, you will be reimbursed for any costs associated with losing access to your home or a part of your home. This may include hotel or rent costs, dining out, or anything else you are forced to pay for because of the damage to your home.
One of the most important coverages on a homeowners insurance policy is personal liability. Personal liability covers the costs of any injuries that may occur on your property. It also covers any property damage that results from your negligence and helps in the event of a lawsuit.
You should check your policy to be sure that the limits are sufficient for your needs. If you don’t think it is adequate, you should consider purchasing a personal liability umbrella policy.
In most cases, sewer lines are not covered under a basic homeowners insurance plan. However, some exceptions do exist, such as if the damage as the result of something outside of your control. Examples include fires, explosions, vehicular damage, and falling objects.
If your home insurance does not cover your sewer lines, you may want to consider purchasing extra coverage.
Need help fighting the insurance company?
Don’t let the insurance company get away with paying less than you deserve. Get in touch with RRBH Law today to discuss your case.