If you’re buying a home for the first time and need to purchase insurance to satisfy your mortgage lender, make sure you understand what your policy covers in the event of a claim. Many people are unaware of the different coverage types and optional coverages you can add to make sure your home and belongings are protected. For instance, replacement cost is an optional coverage which can help rebuild your home in the same spot, with the same size and quality of construction, at today’s costs. At Insurance Solutions, we can help you understand the terminology in your policy to determine if the coverages and limits are sufficient to protect your investment.
The Scope of Your Policy
Depending on the type of policy, homeowners insurance is surprisingly broad in its scope and will cover many different elements of your home. It will cover the dwelling itself and your personal property in it, subject to the policy limitations and deductibles selected.
But what about protecting you and your family? Let’s take a deeper look to find out what you can expect on this coverage front.
Personal Protection
Your home insurance can protect you and your family in a few different ways. The most obvious is your liability protection which helps to pay for injuries suffered by others on your property. This minimizes your financial liability should you experience a lawsuit.
Will your home policy protect your family if they get hurt on your property? Generally not. This coverage is provided most often by your family’s health insurance.
Protect Your Home
Give us a call today to answer your any questions you may have. Our experienced advisors can create an affordable home insurance plan that works best for your specific needs.
