What Does Homeowners Insurance Cover

For the majority of Americans that own a home, your insurance policy will look something like this.  Make sure you understand the items covered and NOT covered on your homeowners insurance policy. Do you know what your homeowners insurance policy covers? 

Policy A: Dwelling - protects the main structure of your house along with other structures that attach to it. The actual home insurance policy pays you in the event of any harm as a result fire and natural disasters like.  Some of these damages could result from items like tornadoes and hurricanes. 

Plan B: Your Other Structures – this provides protection for any structure or dwelling that remain in the house but not a part of your main house.  Items such as an unattached garage, storage unit, shed in the back and even your fence.

Insurance policies C: Unscheduled Personal Property – the part of your coverage is for damage to your personal effects owned or used by you inside or outside the house.

Plans D: Loss of Use – this reimburses you for expenses that you’ll incur in the event your home becomes dilapidated, typically caused by a loss covered by the insurance carrier’s policy.

Plans E: Personal Liability - provides coverage if another person brings a large claim or lawsuit against you for bodily injury and/or property damage as a result of carelessness in your house.

Policy F: Medical Payments - provides coverage for medical payments in case someone is injured on your actual property.

Sometimes you will find that items like mold plus several kids of related water damage coverage’s are limited or not covered by your policy.  This can be very often specifically limited. Mold damage can be quite costly because it can grow undetected for many years prior to you know you now have a problem. Please read your policy in great detail, so you don’t have any surprises if and when you need to make a claim. 

Another item that would not likely be covered in your policy would be combat, war or nuclear wrecks and especially acts of terrorism. A local riot would be covered when you are attacked by terrorist or armies would not.

Also, natural disasters might not be covered under your policy.   For example, if your home burns down inside of a wildfire and now you reside in a remote house or your home is broken apart by an earthquake, inundated because of a flood you are able to not be covered. Similarly, if you’re the victim of a particular landslide, however, you’re pretty much on your own. That sort of earth movement usually isn’t covered, so that it pays to be able to get a geologists report before buying any home near a cliff or on a hill. Both earthquake and flood insurance are available as stand-alone coverage.

Dogs and High risk pets such as a Pit Bull, Shepherd dog or wolf breed may result involved in your insurance getting very expensive -- wherever possible persuade your insurance to try and cover this, but many will just say no to these kinds of pets. 

Make sure your insurance agent reviews all of your coverage’s before you purchase the policy.  Don’t leave any details out when asked certain questions by the insurance company. You want to make sure that they pay your claim when you are in in need.  The carrier should be there to help you in a time of emergency.  Make sure you know what your homeowners insurance policy covers!


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