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FACTS ABOUT HOME INSURANCE

Home insurance, or homeowners insurance, provides protection of many people's most valuable asset; their home. There is often confusion about what home insurance covers. Generally home insurance covers damage to your home, other structures on your property (i.e. a shed), your belongings, and your liability (injuries to others on your property). Most home insurance policies will also cover living expenses should you have to live elsewhere while your home is repaired. However, these things are usually covered only under specific circumstances; herein lays the confusion.

Most damage caused by natural disasters is covered under most home insurance policies. Damage caused by fire, hurricane, hail, or lightning is most often covered. Exceptions include flood damage, earth quake damage. A separate policy must be purchased to cover these disasters. Additionally, maintenance related problems are not covered under most home insurance policies.

For example if your ceiling, carpet, and belongings have water damage due to roof damage caused by a felled tree in a storm, your home insurance policy would likely cover repair of the roof, as well as any inside damage. However if your ceiling and rug are damaged by a slow leak in your roof caused by poor maintenance all repairs would likely not be covered by home insurance.

Home insurance is generally purchased as part of a mortgage contract. Many people are not completely aware of what is covered on their home insurance policy until they have a need for it. It is good practice to discuss home insurance policies with an insurance agent prior to the purchase of your home. Agents who regularly insure homes in the area will know what kind of insurance is generally needed and will direct you to the best policy for you and your family.

Subtopics: Best Price Car Insurance, Car Insurance Quote, Cheap Car Insurance, Find an Insurance Company, Free Insurance Quote, Mandatory Health Insurance, Rental Insurance
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