Did you know that American suffered a record number of named storms this year, including 7 hurricanes and 14 tropical storms?
Aside from hurricanes, natural disasters are getting more frequent and severe as climate change worsens. This is why insurance is a necessity.
Are you wondering how you can protect yourself? Keep reading to learn all about the different types of homeowners insurance that exist today.
Basic Coverage
Before you decide on the best homeowners insurance, it’s worth keeping in mind the basic coverage you can expect. While there is a lot of variations on home insurance, all standard policies cover the dwelling itself, the contents inside, and personal liability.
Dwelling coverage encompasses the structure of your home, including the walls, the ceiling, the floors, as well as any structures attached to the main building. Depending on your overall plan, you can expect coverage in the event of local flooding, a fire, vandalism, robbery, and more. If the entire house is totaled, then there is also the possibility of getting the home rebuilt.
As for contents, you can expect coverage for your home’s furniture, your family’s clothing, and a wide range of other items too. For the most accurate quote, you’d need to get a home appraisal value.
When it comes to personal liability, you can have peace of mind knowing that you have coverage if any of your guests get injured during an accident.
Additional Coverage
A smart homeowner will go beyond the basic coverage and make sure there are no loose ends. That way, you won’t be left in a lurch in case something unexpected happens.
In addition to home insurance 101, you should look into coverage for each type of natural disaster. In some cases, this coverage is required. For instance, high flooding zones require you to get a certain amount of flood insurance, and the same is true for earthquakes.
The best insurance policies will include sewage backup coverage, which protects you if your home gets flooded with its own sewage.
If you have structures that aren’t attached to your home, such as a gazebo, then you can get additional coverage for those assets. For older homes, it’s a good idea to get ordinance insurance. This can pay for any updates in your home’s structure that you’re required to get by law.
While basic coverage has personal liability for guests, you can upgrade that coverage to include more people.
Ready to Choose Between Types of Homeowners Insurance?
Now that you’ve learned all about the different types of homeowners insurance that exist today, you can make sure that your home has the right coverage. That way, you can have peace of mind even if an accident occurs.
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