Items Covered Under Standard Homeowner's Insurance

Homeowner's insurance coverage offers protection against losses caused by accidents, disasters, and theft. This policy is available for both tenants and homeowners, which means you do not need to own a home to use the cover. Insurers also draft particular homeowner's policies for condominiums and co-op-apartments whose ownership and usage follow proprietary laws and by-laws. This piece discusses items covered under a homeowner's insurance policy. 

Cover for Your Home's Structure

The homeowner's policy pays for the repair and reconstruction of your home due to damages resulting from hail, lightning, fire, or hurricane. Such issues may be natural or artificial, and your insurer helps you recover the losses. 

If your home has other detached structures, ensure you inform the insurance company when negotiating the policy terms. For example, you may want to cover the fence, garage, storage area, worker's quarters, and other structures. 

Standard policies do not cover damages resulting from earthquakes, and floods. If your home is in a geographical region vulnerable to earthquakes and floods, ensure your insurer knows about it and includes riders for both issues. Ultimately, be sure you purchase enough coverage to allow you to rebuild your house or damaged detached structures. 

Cover for Liability

Guests, workers, and other people visiting your home might encounter certain risks. For example, a fire in your parking lot might damage your vehicles belonging to your guests. As a homeowner, you are liable for such damages, and the homeowner's insurance cover protects you in such a case.

This insurance coverage pays for the costs of defending you in court and any other payments ordered by the judge. You can also upgrade the liability policy to include excess liability or an umbrella cover when you have expensive items at your home. 

The liability cover also has a no-fault medical coverage which ensures that your insurer pays the hospital bills of guests injured at your home. However, the medical bills for you and your pets are not a part of this insurance cover. 

Cover for Your Personal Belongings

Your home often contains an assortment of personal belongings ranging from sports equipment to furniture. You might also own rare collections of art, personal projects, machinery, and other items. A fire, burglary, hurricane, or other misfortune may damage your items. Such losses may set you back, and recovering from them might leave you in debt. 

Ensure you create an inventory of your belongings when getting a homeowner's insurance policy. The insurer also covers the items stored away from your premises. For example, you might lose your bag while traveling and request compensation from the insurance company.

The insurer might also request you to take personal property floater or endorsement for expensive items such as art, furs, collectibles, and silverware. You can only get back the total worth of the item if you insure it for the appraised value.

Finally, the policy can compensate you for the loss of plants and trees on your premises except when they succumb to the disease. Therefore, ensure your insurer knows such plants and trees, including potted shrubs and flowers in your home. 

Cover for Additional Living Expenses

The insurer pays for the accommodation if you cannot live in your home due to damages caused by certain risks. Moreover, they could pay for meals and hotel rooms as you await the repair of your primary residence. 

Are you thinking about getting a homeowner's insurance cover? The policy shields you from losses incurred due to damages to the structure of your home and personal belongings. At Clover Insurance Agency we pride ourselves on expertise, resources, and professionalism in providing personalized home insurance covers. Contact our team today for the best rates on the market.