It’s easy, and preferable, to think that no damage will ever come to your home, someone else while in your home, your belongings and possessions, or anything else on your property, but we know better than that. Sometimes bad things do happen and it is ‘just in case’ something does that we carry homeowner’s insurance. Not only do many mortgage lenders require it to protect their own financial interests, but you should carry it whether it is required or not, to protect your financial interests. Because the many homeowner coverages can be a lot to take in, we have prepared a homeowner’s insurance primer for you, and today we continue with your primer course in homeowner’s insurance part 2.
Types of Coverage
Homeowner’s insurance policies usually provide a variety of coverages. There are usually about six major types of coverage they will provide including:
Dwelling: This covers the physical structures of your house and those structures attached to your house which includes such things as electrical wiring, heating and central-air type (permanent) units, and other fixtures such as plumbing.
Other Structures: This covers sheds, barns, fencing, unattached garages, and other houses such as a guest house.
Personal Property: This covers the possessions within your house such as appliances, jewelry, clothing, electronics (computers, stereos, TVs, etc.), and furniture.
Loss of Use: If you can no longer live in your home due to damage this will cover some of your living expenses until your home is repaired.
Personal Liability: If you are sued and found legally responsible for injuries or damages to someone else, this part of the policy will help cover your legal expenses.
Medical Payments: If someone were to get injured on your property, or a pet were to bite them or attack them, this will help pay that person’s medical bills.
The above coverages help to reimburse you for the value of your possessions, repairs, for the costs of injury to someone else while on your property, or for legal fees if necessary.
ABOUT YOUR DALLAS, TX INSURANCE COMPANY:
With over 20 years of experience in the insurance industry, the Jeff Van Matre Insurance Agency can help you choose the right coverage plan to protect your personal and business assets. To learn more, or to get a free quote, call our Carrollton, TX office today at 972-492-8500.