A Clearer View on Home Insurance.

(Image Source: www.insurancepieces.com)


To put it in simple terms, A home owners insurance policy is a long written documentation that covers your house when it get’s any damage during a specific duration. So it really pays to know what’s in yours and how it works.

“Insurance is a complex product and there’s no harm and no shame in not fully understanding it,” says Alessandro Iuppa, former president of the National Association of Insurance Commissioners. “Most people don’t read a policy until they’ve had a claim denied, and that’s too late.”

Source: http://www.bankrate.com/finance/insurance/understanding-your-home-insurance-policy-1.aspx#ixzz3yaemoM8l

For example, you just closed the deal on your dream house, you move in with your family and a few weeks later you find that there is a crack somewhere that can lead to further damage and may result to hurting one of your family members. of course you would naturally want someone to pay for this right?

That is where your home insurance comes in, it serves as your security blanket for a certain duration of time so that when these cases appear it can be handled easily .

So, what does a home insurance cover?

The main reason you buy an insurance policy is for the coverage it provides. There are multiple types of coverage, to name a few, are the following;

Dwelling coverage: The part of your policy that helps pay to repair or build your home if the damage results to a covered loss. this is the most common type of coverage.

Liability Insurance: Helps protect your assets and cover costs associated with a lawsuit when you or a family member is responsible for injuring another person, or if someone is injured on your property.

Other Structures: Covers the cost of repairing (or rebuilding) detached garages, sheds, and other similar structures.

These are just some of the many types of coverage that could be in your homeowners insurance, so you may wanna check it out, you’ll never know when it will come in handy.