Why Should You Get A Homeowner Insurance?

Homeowners insurance protects the homeowner from financial losses against theft, storms, fire, and flood. It also covers other causes explained in your policy. Read your policy carefully to understand your coverage. Reading policy is not enough you should also know about your rights. All states have renter’s insurance and consumer bill of rights to help you in case you file a claim against home insurance company. Your home insurance company should send you bill of rights with policy.

Don’t wait until you have a claim to review your policy and to know your rights.

Here are some reasons why you should get a homeowner insurance.

You should buy a Homeowners Insurance. It covers five or six types of coverage. This is better than buying a specific policy for each type of coverage. Buying separate policies will cost you much.

Homeowners policy include five coverage.

Dwelling coverage: This part of a homeowners policy will compensate you if there is damage to your home. It also covers other structures like garages or storage sheds.

Personal property coverage: It will pay when your household items are stolen. This includes items like furniture, television, freezer, or clothing. They are covered if they are damaged or destroyed.

Liability coverage: It protects you in case you are responsible for someone else is injury or property damage. In such cases homeowners insurance will soon offer you with a minimum of 20,000 USD as coverage. Policyholders can buy an extra premium of $1 million.

Medical payments coverage: It pays all medical bills if someone gets injured even in the premises of your property. Medical coverage also covers certain injuries like your dog biting someone in your house. You can get a basic coverage of $500. This can be increased up to$5000 by paying extra charges.

Loss of use If your house is damaged for any reason, and you have nowhere to live, the homeowners policy will cover your living expenses in such a condition.

Thus you can make your home and your life secure with Homeowners insurance policy.