Home Insurance Quotes - What Does A Standard Policy Cover?
If you are purchasing a new home, you want to ensure you protect it with the right insurance
. You never know when a disaster can occur, so being prepared is important. Good home owner's insurance can keep you protected against property loss, disasters, and even third party injuries.When you are ready to purchase your insurance, it is important to understand what that policy is going to cover. Are you unsure what standard policies cover when it comes to insuring your home? If you are ready to start looking for home insurance quotes, here is some important information on standard policies that you will want to know.
* First, you'll find that a standard policy is going to cover and structural damage that occurs to your home. If any damage occurs because of a disaster that is listed within your policy, then the policy will pay for rebuilding or doing any repairs. Just remember that unless you have purchased separate cover, basic policies do not include floods or earthquakes. When you are searching for your insurance, do not base the cost of rebuilding upon the price you paid for your home in the past. You will need enough cover to make sure you can rebuild at the current cost of construction.
* Loss of personal items is also something that is covered by a standard policy for home insurance. Usually this will include compensation on clothing, keepsakes, and furniture, up to 70% of their value. It is important that you have an inventory of your possessions, which should be stored somewhere secure and preferable off site. Photo inventories or video inventories are excellent options.
* You also get liability cover with your standard policy. This is protection against any bodily injury or property damage to a third party. This cover provides money for damage awards and court costs. Although the basic cover starts at around 100K (pounds) , it is usually a good idea to go with a higher amount of liability cover to ensure you are financially protected.
* Money for living expenses is also included in most standard policies. If you have to live elsewhere while your home is being repaired or totally rebuilt, you will have bills for lodging, food, and more. When you are looking for home insurance quotes, look carefully at this part of your policy. Find out about the limits of living expenses cover and the time frames as well. This way you ensure that you get the best cover in case something does happen to your home.
This is simply a look at what most companies offer you in a standard policy. It is important that you know this information when you start searching for home insurance quotes. Always make sure that you carefully consider your needs. In many cases, you will need more cover than a standard policy has to offer and you may want to go with higher cover or add on policies to give you total protection.
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