subject: Your House Owners Insurance – More Than Just Fire [print this page] You probably know that your homeowners' insurance policy will help you pay for a contractor to rebuild your house if it is destroyed or damaged by fire. However, few people know about most of the other benefits offered by a standard home owner's insurance.
A homeowners insurance contract will pay if your home is burned to the ground. It will also pay out in many other scenarios.
If your house is destroyed because of a direct loss caused by a cause not specifically excluded by your house insurance your home insurance is likely to pay out. Any monies you receive will be reduced by your deductible.
A home insurance contract also covers structures connected to the dwelling. If you have a car port or an in-law apartment attached to the your home it will be protected the same way your house is.
It also covers any other buildings permanently attached to your land. This can include your detached garage, your shed or a pool.
Your personal property also gets a lot of coverage from the HO 3 form or standard home owner's contract. Your personal property includes your furniture, clothing, and your kids' toys.
Your homeowners insurance will specifically prevent the coverage of certain personal property. You will, of course, need to pay for a separate car insurance policy to cover your car. You will need to purchase a separate airplane contract to cover your airplane.
Your homeowners' policy will limit the protection for other personal property items. Money, watercraft and silverware will have limited coverage. Better coverage may be purchased in the form of a rider or a separate contract.
Your homeowners' policy covers your stuff all over the world.. If your clothes is taken by a thief your auto your home insurance may reimburse you for it.
Theft of personal property located in your car is not insured by your auto insurance contract. Your homeowners' contract is the policy that covers personal property.
A house owners insurance also includes protection for loss of use. The loss of use benefit pays when you unable to live in your home due to a covered event. This part of your contract can reimburse you for your living expenses if there is a fire in your home and you cannot live in it until the damage is repaired.
Your homeowners insurance contract will also include protection for liability. The liability protection, similar to the personal property coverage will extend beyond the borders of your property.
If you accidentally injure someone in a shopping center, your house owners insurance contract may pay the injured party. Injury caused while driving your auto will be specifically excluded. There are other exclusions as well.
Your house insurance policy probably covers a lot more than you thought it did! Being aware of all of the benefits can mean that you don't pay out of pocket for something that was covered by your homeowners' insurance contract. r/> Your homeowners contract covers a lot more than just fire. It can reimburse you if your house is damaged by other causes. It insures not just your home but also other structures on your land. It covers your personal property. It can reimburse you for the cost of a hotel room if you can't live in your home due to a covered event. The liability section can protect you if you are sued.
Your Your house insurance is probably not nearly as expensive as your car insurance contract, but it still deserves some attention. Make sure that you receive competitive quotes every few years to make sure that you don't pay too much for your homeowners insurance.
Your House Owners Insurance More Than Just Fire
By: Alston Ballkcom
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