1) Dwelling – This coverage takes care of the home in which you live in and all other fixtures or structures attached to it (garage, built-in appliances, heating, electrical wiring, plumbing and permanently installed air conditioning systems) in the event of damage or loss. Your agent can meet with you to discuss the details of your dwelling so you are sure that you are insured for the correct amount. If you have a mortgage, the lender will also require that you are insured for at least the value of the mortgage.
2) Other Structures - When it comes to tool or storage sheds, detached garages, fixtures attached to the land like patios, fences, driveways and sidewalks, most insurance companies extend coverage to such structures. Since these may also be affected by a variety of circumstances, it is smart to get coverage for them as well.
3) Personal Property – The things you own which are kept inside your house can be as valuable as the house structure itself. Therefore, you may also want these belongings covered. Personal property protection is the right coverage for these items. It is significant to note and record the monetary values of your valuable belongings. Creating a home inventory can be helpful, and an easy way to do it is to take pictures of every room of your house and store them online or off site. Keeping track of your belongings and how much they are worth may be a pesky task but it can be helpful because your insurance premiums greatly depend on their monetary values. If you need to make a claim, your home inventory will come in very handy when proving what you owned and how much it was worth. You should also be aware of the dollar limits for which you are covered to ensure that your homeowners’ insurance policy provides adequate, if not maximum protection for your personal property.
4) Natural Calamities - Coverage for natural disasters can be limited as most insurance companies only cover fires, windstorm, hail and lightning strikes. For the common disasters like earthquake and flooding, you may need to purchase an additional coverage for your protection. It is important that you inquire about these to your agent to have the protection you, your home and other properties need.
5) Bodily Injury Liability – Because it is inevitable that accidents can happen, this homeowners’ insurance policy may help you whenever somebody not living with you in the house gets injured while on your property. Typical insurance companies offer you such coverage to help you from the financial responsibility of paying a legal counsel to defend you or paying medical expenses for the injured if you are found at fault.
Apart from the things aforementioned, you might want to ask your insurer about replacement cost and actual cash value. Your individual needs will likely determine which type of coverage you need to include in your policy.
Let us know how we can help you today by calling us at (561) 406-6153. We at Robert Nichols Insurance Group take great pride in the quality of service we provide our customers for their insurance needs. You may get a free quote from us by clicking here.