How Does Homeonwer Insurance Protect Me?
Fire, theft, accidents. . . these are the kinds of threats that might cause you to lose sleep, if you didn’t have the protection of homeowners insurance coverage. Fortunately, a homeowners policy will cover damage to your home and personal property due to a variety of causes. The personal liability portion of a homeowners policy provides coverage, for example if your litigious brother-in-law slips down your steps on a rainy day and injures himself.
Each home insurance policy offers different protection, but standard policies usually provide:
- Broad coverage for damage to your house
and any permanent structures on your property (unless the cause of the damage is specifically excluded in your policy.)
- Damage to your personal property due to causes specified in your policy.
- Limited coverage—usually $500 - $2,000
—for jewelry stolen from your home.
- Coverage for personal liability exposures that arise from being a homeowner.
Coverage for additional costs you might incur because of a covered loss (for example, if you need to temporarily live elsewhere if a fire makes your home uninhabitable).
