For many, homeowners insurance is a necessity. It offers financial protection for your home, and understanding coverages can help you pick a policy best fitting your needs.
What's not covered by my insurance?
It’s essential to note, homeowners insurance doesn’t cover every peril that can potentially harm the structure of your property. For example, most policies don’t cover termite damages, as this is seen as something preventable by the homeowner with proper maintenance. Some perils such as earthquakes and floods need to be covered under separate policies.
What is covered by homeowners insurance?
Homeowners insurance typically offers liability coverage, dwelling coverage and coverage to personal property.
Homeowners insurance offers financial protection against these standard perils:
- Theft.
- Fire.
- Hail.
- Wind damage.
- Ice damage.
- Damages from public commotion.
- Etc.
Is homeowners insurance necessary?
Homeowners insurance isn’t a requirement - however, accidents frequently happen nationwide, and by purchasing a homeowners insurance policy, you add an extra level of security over your assets.
For example, a kitchen may be damaged by a fire. Home insurance would kick in after the deductible is paid to help pay for repair costs. In addition to paying for repairs, the policy type may also cover moving the policyholder and their household into temporary lodging as the structure of the home is being restored.
Consider examining the needs of your home and speak with a local insurance representative to understand what your coverage options are. They can help you choose a policy offering the best benefits for your home and belongings.
About the Author
David Hayes
Welcome to my website, your number one source for Winchester, Arlington, Cambridge, Belmont, Reading, Medford, Melrose, Stoneham, Somerville, Burlington, Boston, Brookline and surrounding towns.
Purchasing real estate should be an exciting yet seamless experience. Helping Buyers and Sellers with their real estate needs is what I love to do. My skills, experience and knowledge help me to make the real estate process as successful as possible for my clients. I am a full time, full service Realtor, as well as an experienced investment property owner, who enjoys working with both seasoned and first time Buyers and Sellers. My business is state-of-the-art and I continue to invest and use the best technological tools available. I consider Real Estate a collaborative profession. We will partner together to find the home of your dreams.
