There’s no one-size-fits-all insurance policy when it comes to homeowners. Even though there are some standards of insurance that are the same across all insurance plans, they can be tailored according to the needs of each client.
What Is Homeowners Insurance?
This kind of an insurance plan covers repairs, replacements and damages to your house or personal property within it in case of an accident. Covered accidents can range from burglaries to fire hazards.
As mentioned above, your particular homeowner insurance can also be customized to cover the cost of injuries if a visitor is hurt on your premises. It may also extend to cover the damages caused by you on someone else’s property.
What Does Homeowners Insurance Cover
These four categories are standard across most insurance plans; however, they can be altered as per your wishes. For instance, some insurance holders want to seek protection from damages by natural disasters as well. But most insurance holders don’t offer it. In such cases, a negotiation can be sought between both parties by settling on partial coverage from select few disasters.
This part of the plan covers the structure of the house where you’re living, which includes the total area covered by your house plan.
This clause states that all additional spaces that are attached to the main house and come under the same property listing, such as decks, garages, tool sheds, or fence.
Homeowners insurance is not only restricted to the foundations on which your house stands but also all that lies within.
Electronics, furniture, and other possessions that are inside the house also come under personal property, that’s protected by this insurance plan.
The plan offers coverage for some covered risks such as theft, or fire.
Out of 16,862 robbery crimes reported in 2018 in Florida, 2922 were house break-ins. You can see why insurance is essential!
If any personal property is damaged during that event, the insurance will pay to repair or replace those damages.
This condition is often offered for the protection of those who visit your house and may encounter injury under covered circumstances. Some instances of such events include a guest tripping on the staircase, or falling on the driveway due to damaged flooring. The insurance will cover the cost of medical expenses and defend you in case of a lawsuit.
This clause offers greater chances of being amended according to personal requests.
Chris Gale has long been affiliated with Manatee Insurance Services and has had considerable experience himself in the insurance industry!