4 Ways Your Homeowner's Insurance Policy Protects You
When it comes to your homeowner's insurance coverage, it is important for you to understand how your coverage will protect you. Your homeowner's insurance coverage is designed to provide you with multiple levels of protection.
Protection #1: Structural Protection
One of the biggest types of protection your homeowner's insurance policy provides is protection for the actual physical structure of your home. Your insurance will protect you from many different types of sources of damage, such as damage caused by theft, fire, hail, or lightning.
This type of insurance will help fix damage to the actual structure of your home. For example, if your home is hit by a hailstorm, and your roof is damaged, your insurance will cover it. Or if a tree falls on your home, and the siding and roof are damaging, your insurance will cover it. Structural damage is at the core of homeowner's insurance coverage.
Protection #2: Liability Protection
When you own a home, you are responsible for what happens to the people who visit your property. If someone is injured when they are on your property, technically they have the right to sue you in order to cover anybody or property damage they suffered.
Your liability coverage with your homeowner's insurance policy will provide you with no-fault medical insurance that will cover medical bills if someone is injured on your property. This is a way you can take care of someone's medical bills if they are hurt on your property without having to deal with a lawsuit.
Protection #3: Personal Belongings
Your home is filled with your personal belongings. If your personal belongings are destroyed, it can be expensive to replace them. Just sit in your living room and make a list of what it would cost you to replace everything in your living room.
Insurance coverage will allow you to replace your personal belongings in the event that something happens to them.
Protection #4: Living Expenses
Your homeowner's insurance policy is designed to provide you with living expenses if the structure of your home is compromised. For example, if a tree hits your home, and you can't live there safely, the living expenses portion of your insurance coverage will pay for a place for you to live until your home is ready again.
Homeowner's insurance coverage provides you with lots of layers of protection. It can provide money to fix the physical structure of your home if it is damaged by a covered event and replace your personal belongings. Your homeowner's insurance coverage can provide you with liability and medical insurance coverage if someone is hurt on your property, and provide you with a place to stay if your home is compromised. For more information, contact a homeowner's insurance company like ALTRE Insurance Agency Inc.
