What does homeowners insurance cover?

If you are a new homeowner, you may be wondering just what your homeowners’ insurance covers. Typically, homeowners insurance policies cover the same things from state to state and company to company, but there are different types of insurance policies you can choose to cover your home. These range from very basic to those which offer you a broader scope of protection.

Damage Coverage

Most homeowners insurance policies, including the most basic policies, will cover damage caused by weather incidents like storms, fires, wind, heavy ice, snow, sleet, hail, and lightning. Floods and earthquakes are normally excluded.

These policies will also cover damage or loss caused by non-weather incidents like vandalism, theft, riots, and vehicles (including aircraft).

You may also choose a policy which will cover things like damage from plumbing problems, damage from your heating or cooling system, or an artificially generated electrical current.

Financial Protection

A homeowners policy will general provide you with financial protection if your home, or your property inside the home, are damaged. It can also protect you if you are held liable for any injuries to others on your property.

In the event of damage caused by one of the losses listed above, your insurance will most of the time pay to repair or rebuild your home. This includes the electrical system in your home, your plumbing, and your heating and cooling system. This is why it is important to make sure you have enough coverage to cover the cost of a rebuild.

If you must move out during repair or rebuilding, your policy will typically cover your expenses.

Structures Covered

Your policy may cover more than just your home. It may also cover outbuildings such as detached garages, sheds, cottages, and fences, as long as they are on your property.

Homeowners insurance covers all of the personal property in your home, too. This includes clothing, furniture, electronics, and so on.

Additional Coverage

For incidents not covered under basic homeowners policies, there may be supplemental coverage you can purchase to protect you. Our agents at Silverton Insurance Specialist, LLC can help you choose any additional coverage you might need.

Required by Law

Most mortgage lenders require you to show proof that you have homeowners insurance.

Be confident in your insurance choices. Contact Silverton Insurance Specialist, LLC today to learn more about the homeowners’ policies available to you. We will find one that meets your needs.