What Is Homeowners Insurance Coverage?

Before attempting to find the best homeowners insurance coverage you should make sure that you are familiar with what homeowners insurance is and what it can do for you. A standard policy provides financial coverage to your house and the property within the house. Natural disasters, theft and other maladies that can occur are usually covered in your policy. Some exceptions include flood and earthquake protection, which require additional coverage. Another feature that home insurance covers is damage caused by household pets and any legal liabilities to anyone caused harm by yourself or family members on your property.

The amount of house insurance you may require is based on 4 areas: Home structure, personal property, liability for protection to others and some additional costs associated with repairs to your home.

House Structure

? Always make sure you obtain enough insurance to cover the cost incurred to rebuild your current home at today's market prices in the event a natural disaster should take place. You don't really need to include the cost of the land and you shouldn't base the amount on the price you paid for your house as the cost of rebuilding fluctuates.

Personal Property

? As much as you value your personal possessions many insurance policies will only provide coverage between 50% and 70% based on your current homeowners insurance coverage. You play a big part in making sure your property is properly covered so make sure to do an inventory listing all of your possessions. Try to be as detailed as possible, after all this is your property and you deserve to be reimbursed if anything bas happens. You'll have to be careful in this area. If you own expensive jewelry or furs then you should seek out additional coverage through a floater or endorsement policy. In most cases an insurance company will only compensate you $1000 to $2000 for jewelry or furs that are stolen or lost in a fire. I can relate a true story to you where my wife and I had $12,000 worth of jewelry stolen and were only reimbursed $1000 because we didn't have additional coverage for her jewelry collection with a floater. The lesson learned was always to make sure our possessions were accurately and correctly insured against future losses.

Liability Coverage

- This part of your homeowners insurance coverage provides protection for you against lawsuits for bodily injury or property damage that you or family members cause to other people. It also pays for damage caused by pets. It pays for both the cost of defending you in court and for any damages a court rules you must pay. Although many insurance companies provide $100,000 worth of coverage, it's a good idea to increase that amount to $300,000 or more.

Additional Costs - This pays the additional costs of temporarily living away from your home if you can't live in it due to a fire, severe storm or other insured disaster. It covers hotel bills, restaurant meals and other living expenses incurred while your home is being rebuilt. If you live in an area with a high propensity of natural disasters then you definitely want to make sure you're adequately covered here.

Hopefully this information detailing what homeowners insurance coverage was helpful and gave you a better idea of what your standard house insurance policy is comprised of.

Timothy Gorman is a successful webmaster and publisher of Best-Free-Insurance-Quotes.com. He provides more insurance information and offers discount auto, life and home insurance that you can research in your pajamas on his website.

Other websites operated by Tim
Cellular-Phone-Solutions.com - Free information and resources regarding cell phones and cell phone plans.

Military-Loans-Online.com ? Which provides free money saving loan quotes on all of your loan needs to include home equity loan information.

---

Mortgage Insurance Plans: How Good Is Yours?

Mortgage insurance, to pay off a mortgage, is something you'll... Read More

Medical Insurance - Health Insurance Coverage & Plans Explained

If you're trying to decide between health insurance plans, you'll... Read More

What Answers To Questions For A Home Insurance Price Quote Will I Need To Know?

Lets face it, finding the best home insurance price quote... Read More

Finding a Discount Car Insurance Broker

Discount car insurance brokerTimes past finding a discount insurance broker... Read More

Finding Term Life Insurance Online

What exactly is Term Life Insurance?Term life is a form... Read More

Life Insurance Benefits

Life Insurance is a legal contract between you and a... Read More

Term Life And Whole Life Insurance

Which type of policy is best for you, term or... Read More

About Accidental Death Dismemberment Insurance Quote

We don't hear much about getting an accidental death dismemberment... Read More

A Guide to Insuring Your Sailing Dinghy

If you've just bought a dinghy or are thinking about... Read More

Insurance or Assurance - Do You Need Reassurance?

Insurance versus assurance: what is the difference?Should you care?Yes!!The world... Read More

Canadian Funeral Insurance: Our Final Gift to Those We Love

Most of us don't like thinking about our own funerals,... Read More

Student Health Insurance - Is It Necessary?

As a young, healthy college student, it might be tempting... Read More

Taking The Mystery Out Of Long-Term Care Insurance

Here's the good news: with improvements in medical technology and... Read More

Insure Your House

When we talk about insurance the thing you have to... Read More

Medical Bills - Evaluating Your Personal Injury Insurance Claim

The value of a personal injury claim has a direct... Read More

Types of Homeowner Insurance

There are 6 different types of homeowners insurance in general... Read More

UK Young Driver Motor Insurance - Build Your Own No Claims Bonus or Insure through Your Parents

For may young drivers, affording the costs of motor insurance... Read More

What is Pet Health Insurance?

Pet Health Insurance can give you the peace of mind... Read More

Life Insurance Information

Life insurance is a personal insurance plan designed to pay... Read More

The Best Rates on Life Insurance

Finding the best rates on life insurance is not difficult... Read More

Guide to Car Insurance

Here is a useful guide to car insurance. Buying car... Read More

State Farm Auto Insurance ? Heres A Few Factors That Determine Your Rate

There are many factors that affect the insurance rate you... Read More

Avoiding The Potholes Of Car Insurance

Car Insurance is an issue that we all of face... Read More

What Is Term Life Insurance?

There are two different types of life insurance, term life... Read More

Who Sets Auto Insurance Rates?

Auto Insurance rates are a complicated business. Have you ever... Read More

Long Term Care Insurance - Low Cost Alternatives For Budget Conscious Seniors!

With Nursing home Cost's running $4,000 to $6,000 a month... Read More

Health Insurance Coverage

Health insurance is something that everyone needs today. The rising... Read More

Finding Life Insurance Quotes For Adult Children

Shopping for life insurance quotes for adult children isn't any... Read More

Terrorism Insurance - What it Costs Small Business

The Terrorism Insurance Act of Nov. 26, 2002. This helps... Read More

Tips For Lowering Your Auto Insurance Quote

Do you have many claims? If so, you should do... Read More

Car and Home Insurance Northern Ireland

Don't skimp on insurance. This probably doesn't sound like a... Read More

Online Health Insurance Quotes - Finding The Cheapest Rates Possible

Shopping for health insurance can be very discouraging when you... Read More

Should I Buy Rental Car Insurance?

Rental car agencies have a menu of insurance policies they... Read More