Home insurance policies usually provide homeowners compensation for cost of repairs and replacement related to their home and belongings due to sudden and accidental events such as roof leaks, pipe bursts, hail and wind damage. Damages caused by fires, mold and even theft are also covered by home insurance.
More expensive home insurance policies may also cover accidental damage which include damages you’ve caused to another’s property and expenses others have incurred due to being injured on your property.
Homeowners that can afford to pay higher premiums can opt for additional coverage that provides greater protection. Typically additional coverage will cover the cost of major damage caused by fires, windstorms, lightning strikes and hail.
Although home insurance does cover many natural disasters like hurricanes, it doesn’t cover everything. If your house is damaged by a flood, insurance companies may deny your claim because many do not offer coverage forthat type of loss. In such circumstances you’re advised to seek the help of a qualified property insurance attorney that can negotiate on your behalf.
Those living in areas that are prone to floods can purchase separate flood insurance policies that specifically cover that risk.
Dwelling protection is a basic coverage offered by an insurance policy. This coverage provides protection to the structure of the house and any attached spaces like patio, garage, etc.
Some insurance policies will cover additional structures that are detached from the house such as tool sheds, detached garages or fences.
Personal Property Protection
Home insurance doesn’t just offer protection to your house; it also covers your personal belongings. If water, smoke orfire damages your belongings or if you lose them in burglary, it should be covered by homeowner’s insurance.
Under personal property protection, your insurance will compensate you for any lost or damaged property.
Extended coverage offers protection for the loss or damage of valuable items like furs, watches and other jewelry.
The majority of homeowner’s insurance policies offer liability coverage that provides compensation for non-residents who were injured on your property. If a visitor happens to slip on a damaged porch, they have the right to ask you to pay for any injuries they’ve incurred. At this point you can use liability protection to pay for their medical bills and related expenses.
When purchasing liability insurance, be sure to understand what it does and doesn’t cover.
Coverage Limits And Deductibles
Home insurance has a limit to it. There’s a limit to how much your insurance will cover. Depending on the size of your property, its location and the amount you’re able to pay as premiums, you can purchase the appropriate level of coverage you need
If it’s going to take a large amount of money to repair your property and replace belongings, you should increase the limit of your insurance policy.
Generally, you’ll be asked to pay the deductibles before you can receive the benefits from your policy.
Home insurance serves as a safety net that prepares you for unforeseen circumstances like sudden and accidental damage from wind, rain or pipe bursts.
If your home has suffered damages due to a burst pipe, water damage, fire, mold, hurricane or other disasters and you’re insurance company is either delaying or refusing to pay your claim, seek the help of competent property insurance attorneys.
Arnesen Webb, P.A. is a property insurance law firm based in Florida. We have a team of qualified attorneys that specialize in water damage, roof damage, wind damage, pipe bursts, flood damage, fire damage, mold, hurricane damage and marine damage.
Think we can help you with a home insurance claim? Contact us today!