If you are paying a mortgage on your home, then you almost certainly also have homeowners insurance. But what do you really know about this insurance policy? What does it mean and what in your home does it cover? If there is a natural disaster will your policy replace your home and your belongings? What about burglary? Here is a list of things that are commonly covered under most peoples homeowners insurance.
All homeowners insurance policies are different and include different things, make sure that you take a good look at your policy to discover what it covers and what it might be missing so that you know what you are paying for each month.
1. Homeowners insurance covers your home - this means the building that sits on your property and any immediate extensions of that building - things like garages or attached apartments that you use as a rental property.
2. Homeowners insurance covers the outdoor area's on your property that surround your home, this means your lawn, your landscaping and any other valuable outdoor features on your property.
3. It covers buildings that sit on your property but that might not be directly attached to your property. This means things like pools, extra garages, cabanas, guest houses and even gazebos.
4. All living expenses incurred by you and your family if your home is damaged to the extent that you cannot reside there for the immediate future. In addition, if you rent part of your home out to tenants and that portion of your home is unlivable due to damage, your rental payments are covered under your insurance policy.
5. It includes all of the things that you own in your house - the possessions that you keep in your main house or in any structure on your property. This coverage usually also includes any guest that is staying on your property and their belongings. This coverage does not include renters on your property - they are responsible to get their own renters insurance.
6. Your homeowners insurance will cover all financial burden you incur due to legal action against you at the time of a disaster to your home - from legal fees to medical bills, while you are rebuilding your life after your home is destroyed your insurance will take care of these personal problems.
7. Homeowners insurance usually carries coverage for financial fraud - checks forged in your name, stolen identity and credit malfeasance and even counterfeit money that you accept without realizing it.
Pull out your homeowner's insurance policy and see what exactly it covers. If you don't understand the document or have any questions about parts of your policy, write them down and take them to your insurance agent and find out what you need to know so that you know exactly how you are covered.
All homeowners insurance policies are different and include different things, make sure that you take a good look at your policy to discover what it covers and what it might be missing so that you know what you are paying for each month.
1. Homeowners insurance covers your home - this means the building that sits on your property and any immediate extensions of that building - things like garages or attached apartments that you use as a rental property.
2. Homeowners insurance covers the outdoor area's on your property that surround your home, this means your lawn, your landscaping and any other valuable outdoor features on your property.
3. It covers buildings that sit on your property but that might not be directly attached to your property. This means things like pools, extra garages, cabanas, guest houses and even gazebos.
4. All living expenses incurred by you and your family if your home is damaged to the extent that you cannot reside there for the immediate future. In addition, if you rent part of your home out to tenants and that portion of your home is unlivable due to damage, your rental payments are covered under your insurance policy.
5. It includes all of the things that you own in your house - the possessions that you keep in your main house or in any structure on your property. This coverage usually also includes any guest that is staying on your property and their belongings. This coverage does not include renters on your property - they are responsible to get their own renters insurance.
6. Your homeowners insurance will cover all financial burden you incur due to legal action against you at the time of a disaster to your home - from legal fees to medical bills, while you are rebuilding your life after your home is destroyed your insurance will take care of these personal problems.
7. Homeowners insurance usually carries coverage for financial fraud - checks forged in your name, stolen identity and credit malfeasance and even counterfeit money that you accept without realizing it.
Pull out your homeowner's insurance policy and see what exactly it covers. If you don't understand the document or have any questions about parts of your policy, write them down and take them to your insurance agent and find out what you need to know so that you know exactly how you are covered.
About the Author:
About the Author: Leigh Jackson is a writer for the home insurance and Texas auto insurance industries. Jackson specializes in the interpretation of insurance polices so that buyers can get the most up-to-date and comprehensive information possible before making a Texas insurance purchase.
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