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.
There are times when you'll find yourself temporarily without health... Read More
How is your driving record lately? Do you have a... Read More
Since the widespread growth of internet usage and database building... Read More
With a rise in those looking to venture out on... Read More
Pet Health Insurance can give you the peace of mind... Read More
Some business relationships are forged through blood and friendship. When... Read More
If you're self employed, you may think of health insurance... Read More
I've long wanted to write an article about Internet Leads... Read More
My wife and I recently purchased a new home in... Read More
It seems as though the price of everything is on... Read More
If you run into a billing problem or misunderstanding with... Read More
One of the most important benefits employed people enjoy is... Read More
Renters insurance is often overlooked by people who are renting... Read More
What is the impact of increased flooding risk in the... Read More
Filing a homeowners insurance claim can be done with ease... Read More
Here is a useful guide to Home Insurance. Home insurance... Read More
According to a study by LifeSearch, the number of women... Read More
Every state requires that drivers carry liability insurance. The liability... Read More
They say everything is bigger and better in Texas, and... Read More
A recent survey took the most popular type of home... Read More
Life insurance, whether you need term or whole life, can... Read More
My whinstone house my castle is, I have my own... Read More
Though popular among today's aging Baby Boomers and members of... Read More
Whether you are self-employed or a small business owner, finding... Read More
Although premiums, policies and prices vary widely, the mandate does... Read More
Several national rating institutions rate insurance companies. Do coverages, rates,... Read More
Finding insurance quotes for California auto is now pretty easy.... Read More
In response to a hard insurance market in the mid... Read More
You see the websites, you see the ads: exclusive, never... Read More
For many consumers the cost of daily living is becoming... Read More
Health insurance is a kind of protection that provides payment... Read More
Why does health insurance cost so much? Year after year,... Read More
You were humming along on a bright and sunny day... Read More
Whether you are self-employed or a small business owner, finding... Read More
In their efforts to cut costs more and more finance... Read More
If you decide not to do a car insurance comparison... Read More
The(ACV)Actual Cash Value Policy DOES NOT insure the property itself... Read More
What is the impact of increased flooding risk in the... Read More
How many times have you seen people whose life was... Read More
Boat insurance is necessary for all boat owners who live... Read More
For many consumers the cost of daily living is becoming... Read More
Whether you are looking for car insurance in Canada, the... Read More
What is auto insurance? Auto insurance (or car insurance, motor... Read More
By searching online for life insurance, you can get a... Read More
Finding the best rates on life insurance is not difficult... Read More
You can go online to easily find and quote auto... Read More
What exactly is Term Life Insurance?Term life is a form... Read More
They say everything is bigger and better in Texas, and... Read More
Protecting your family is the single most important thing any... Read More
Ever thought about how to save money? Sure you have,... Read More
Here is a useful guide to life insurance. Simply put,... Read More
The Health Savings Account (HSA) is an amazing tool that... Read More
The online life insurance companies offer a free service where... Read More
A new financial tool is now available for senior citizens.... Read More
Do You Own A Life Insurance Policy That You No... Read More
The phrase "BUY TERM AND INVEST THE DIFFERENCE" evolves around... Read More
There are many options available for life insurance, and for... Read More
Life Insurance is a legal contract between you and a... Read More
Did you realize that it could cost you more than... Read More
What is a deductible? A deductible is the amount you... Read More
Everything is big in Texas and so it is with... Read More
For most people car insurance is a the single largest... Read More
Do you love someone deeply enough to spend your hard... Read More
Although car insurance is compulsory, it's not necessary to pay... Read More
Naming a beneficiary for your life insurance policy can be... Read More
Many personal auto insurance companies consider your credit information when... Read More
Insurance |