Did you know about these comprehensive coverages included in every homeowners insurance policy?
If you have a standard homeowners insurance policy, you might assume your coverage is limited at best. This is why you may be surprised to learn that even the most basic home policies actually include a relatively wide array of coverages. Here are three of the comprehensive coverages included in every homeowners insurance policy.
1) Loss of Use Coverage
Loss of use coverage refers to the portion of your homeowners insurance that will help you pay for additional living expenses in the event that your home is temporarily uninhabitable. For instance, if your home sustains major damages that make it unsafe to stay there, your loss of use coverage will help you pay for things like hotel stays, restaurant bills, and so on until you can safely return home.
2) Personal Property Coverage
The same coverage that addresses physical damage to your home’s structure also extends to your personal belongings. This means that your homeowners insurance will offer you compensation for the items that are lost or stolen during a storm, fire, an act of vandalism, a break-in, or so on. Just keep in mind that this coverage is subject to certain limitations as detailed in your policy.
3) Personal Liability Coverage
Finally, your homeowners insurance offers coverage for any liability issues that may arise on your property. For instance, if a neighbor injured themselves inside your home, your policy would cover the cost of their medical treatment. Additionally, if the injured party decided to sue, your homeowners insurance would also provide coverage for your legal and settlement costs.
These are some of the comprehensive coverages included in every homeowners insurance policy. Interested in learning more about the home coverage options available to you? Don’t hesitate to contact the experts at Promised Land Insurance Group. We are ready to assist you with all your home coverage needs today.