This way, expenses can be paid without a liability claim being filed against you. Your policy also provides no-fault medical coverage, so if a friend or neighbor is injured in your home, he or she can simply submit medical bills to your insurance company. If you have significant assets and want more coverage than is available under your homeowners policy, consider purchasing an umbrella or excess liability policy, which provides broader coverage and higher liability limits. Liability limits generally start at about $100,000, however, it’s a good idea to discuss whether you should purchase a higher level of protection with your insurance professional. The liability portion of your policy pays for both the cost of defending you in court and any court awards-up to the limit stated in your policy documents. (However, if they destroy your rug, you’re out of luck.) So, if your son, daughter (or even your dog) accidentally ruins a neighbor’s expensive rug, you are covered. It also pays for damage caused by your pets. Liability covers you against lawsuits for bodily injury or property damage that you or family members cause to other people. Trees and plants are not covered for disease, or if they have been poorly maintained. Trees, plants and shrubs are also covered under standard homeowners insurance-generally for about $500 per item.
#Insurance home protector additional home liability full#
To insure these items to their full value, purchase a special personal property endorsement or floater and insure the item for its officially appraised value. You also have up to $500 of coverage for unauthorized use of your credit cards.Įxpensive items like jewelry, furs, art, collectibles and silverware are covered, but there are usually dollar limits if they are stolen. Some companies limit the amount to 10 percent of the amount of insurance you have for your possessions. Personal belongings coverage includes items stored off-premises-this means you are covered anywhere in the world. The best way to determine if this is enough coverage is to conduct a home inventory. The coverage is generally 50 to 70 percent of the insurance you have on the structure of the house. Your furniture, clothes, sports equipment and other personal items are covered if they are stolen or destroyed by fire, hurricane or other insured disasters. When purchasing coverage for the structure of your home, remember this simple guideline: Purchase enough coverage to rebuild your home. Most policies also cover detached structures such as a garage, tool shed or gazebo-generally for about 10 percent of the amount of insurance you have on the structure of the house.Ī standard policy will not pay for damage caused by a flood, earthquake or routine wear and tear. Your homeowners policy pays to repair or rebuild your home if it is damaged or destroyed by fire, hurricane, hail, lightning or other disasters listed in your policy. Most standard policies include four essential types of coverage: coverage for the structure of your home coverage for your personal belongings liability protection coverage for additional living expenses Homeowners coverage provides financial protection against loss due to disasters, theft and accidents.
Understanding the four essential protections provided by your homeowners policy!
0 kommentar(er)
