Tuesday
Feb052013

What is in a Standard Homeowners Insurance Policy?

 

A standard homeowners insurance policy includes four essential types of coverage. They include: 

    1. Coverage for the structure of your home.

This part of your policy pays to repair or rebuild your home if it is damaged or destroyed by fire, hurricane, hail, lightning or other disaster listed in your policy. It will not pay for damage caused by a flood, earthquake or routine wear and tear. When purchasing coverage for the structure of your home, it is important to buy enough to rebuild your home.

Most standard policies also cover structures that are detached from your home such as a garage, tool shed or gazebo. Generally, these structures are covered for about 10% of the amount of insurance you have on the structure of your home. If you need more coverage, talk to your insurance agent about purchasing more insurance.

    2. Coverage for your personal belongings.

Your furniture, clothes, sports equipment and other personal items are covered if they are stolen or destroyed by fire, hurricane or other insured disaster. Most companies provide coverage for 50% to 70% of the amount of insurance you have on the structure of your home. So if you have $100,000 worth of insurance on the structure of your home, you would have between $50,000 to $70,000 worth of coverage for your belongings. The best way to determine if this is enough coverage is to conduct a home inventory.

This part of your policy includes off-premises coverage. This means that your belongings are covered anywhere in the world, unless you have decided against off-premises coverage. Some companies limit the amount to 10% of the amount of insurance you have for your possessions. You have up to $500 of coverage for unauthorized use of your credit cards.

Expensive items like jewelry, furs and silverware are covered, but there are usually dollar limits if they are stolen. Generally, you are covered for between $1,000 to $2,000 for all of your jewelry and furs. To insure these items to their full value, purchase a special personal property endorsement or floater and insure the item for it's appraised value. Coverage includes �accidental disappearance, � meaning coverage if you simply lose that item. And there is no deductible.

Trees, plants and shrubs are also covered under standard homeowners insurance. Generally you are covered for 5% of the insurance on the house �- up to about $500 per item. Perils covered are theft, fire, lightning, explosion, vandalism, riot and even falling aircraft. They are not covered for damage by wind or disease.

    3. Liability protection. 

This covers you against lawsuits for bodily injury or property damage that you or family members cause to other people. It also pays for damage caused by your pets. So, if your son, daughter or dog accidentally ruins your neighbor�s expensive rug, you are covered. However, if they destroy your rug, you are not covered.

The liability portion of your policy pays for both the cost of defending you in court and any court awards -- up to the limit of your policy. You are also covered not just in your home, but anywhere in the world.

Liability limits generally start at about $100,000. However, experts recommend that you purchase at least $300,000 worth of protection. Some people feel more comfortable with even more coverage. You can purchase an umbrella or excess liability policy which provides broader coverage, including claims against you for libel and slander, as well as higher liability limits. Generally, umbrella policies cost between $200 to $350 for $1 million of additional liability protection.

Your policy also provides no-fault medical coverage. In the event a friend or neighbor is injured in your home, he or she can simply submit medical bills to your insurance company. This way, expenses are paid without their filing a liability claim against you. You can generally get $1,000 to $5,000 worth of this coverage. It does not, however, pay the medical bills for your family or your pet.

    4. Additional living expenses in the event you are temporarily unable to live in your home because of a fire or other insured disaster.

This pays the additional costs of living away from home if you can't live there due to damage from a fire, storm or other insured disaster. It covers hotel bills, restaurant meals and other living expenses incurred while your home is being rebuilt. Coverage for additional living expenses differs from company to company. Many policies provide coverage for about 20% of the insurance on your house. You can increase this coverage, however, for an additional premium. Some companies sell a policy that provides an unlimited amount of loss-of-use coverage -- for a limited amount of time.

If you rent out part of your house, this coverage will also reimburse you for the rent that you would have collected from your tenant if your home had not been destroyed.

PrintView Printer Friendly Version

EmailEmail Article to Friend

References (36)

References allow you to track sources for this article, as well as articles that were written in response to this article.
  • Response
    Response: More info
    Excellent read, I just passed this onto a colleague who was doing a little research on that. And he actually bought me lunch because I found it for him smile So let me rephrase that: Thanks for lunch! "He who walks in another's tracks leaves no footprints." by Joan Brannon.
  • Response
    Response: richard goozh
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    Response: call center
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    Response: Read Alot more
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    北疆之旅之五彩滩(【民间文艺】征稿) 布尔津的五彩滩,那海市蜃楼般的迷幻风景,至今让我不知是真是幻,依稀还犹如在梦中。   五彩滩 得了麦粒肿不能吃什么呢? 北岸,是悬崖峭壁式的雅丹地貌,据说形成于激猛的河流和狂风亿万年得 网络的感悟 了麦粒肿不能吃什么呢?来孜孜不倦地侵蚀切割。迫害的结果,就是生成了这般奇特迷幻、光怪陆离、不拘一格的壮丽景色。   初到五彩滩,它那瑰丽绚烂的色彩,让人误以为是天上的霓虹跌落到了凡间。那是怎样一种缤纷璀璨的颜色,艳红、灿金、明黄、雪白、鲜橙、铜棕、湛蓝、炫紫 何止才有五色,这里就是上帝的一块调色 前列腺结石的预防方法您了解吗 板
  • Response
    宁静,让能量盈满 春在这宁静中生生不息地渲染蓬勃发酵着,快速地点缀着枝头欢逸,朵朵的花和着暖阳舒适地绽放着,在风中 经常喝高糖饮料还会让血糖水平升高 摇曳又欢愉后复归平静;渐渐回归着它的自然、平淡、宁静的姿态。      在内心映照着蓝天,凝望着欢快飘动的白云,欣赏静静开放的小花 很小就开始帮妈妈做力所能及的家务 ,浮躁的心也被清新所占据,如同清泉淌过一般。内心的那朵微笑也像点缀在枝头,生命中的内心在宁静触摸经常喝高糖饮料还会让血糖水平升高下,与万物之灵在契合,宛如美妙的乐章,瞬间,那幸福的清泉在心底默默流淌。宁静,让人生有面对世界有一种新的方式,我很小就开 陕西西安皮肤病医院 始
  • Response
    坦然面对死亡 至于世界观、人生观:文史哲法过去说"人活七十古来稀&rdquo,西安牛皮癣康复中心;,今人的平均寿命比古人长多了。七十 至于世界观、人生观:文史哲法 不稀奇,八十能自理,争取活到九十几。然而"神龟虽寿,犹有竟时",人迟早一死。到 西安牛皮癣康复中心 了老年,好像马拉松长跑,突然看到了生命的终点。如果再有疾病缠身,也许还会有"生命进入倒计时"的焦虑与恐惧。因此,人到老年不得不直面一个现实问题:死亡。在死神面前,是惶惶不可终日,还是坦然面对呢?      生与死,无非是人的两种存在状态。恩格斯说&ldqu广播交友,两人于2007年 广播交友,两人于2007年同居至今 同
  • Response
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    Response: look at here now
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    Response: bedroom furniture
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    Pahoa m Discount Oakley Sunglasses Sale an arrested for allegedly Cheap Oakley Sunglasses Outlet threatening workers with knife | KHON2Big Island police arrested an 18-year-old man in connection with a knife incident in Pahoa.The incident happened shortly after 5 p.m. Wednesday at a business establishm Cheap Oakley Sunglasses Outlet ent on ...
  • Response
    Response: youtube.com
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    Response: bit.ly
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    Response: these details
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    Response: Click Link
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    Response: hydroponic
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    Response: seo boston service
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    Air shows it Spaccio Moncler Milano ems,Spaccio Moncler Milano It was always a matter of curiosity among scienti Outlet Prada On Line sts that how stones can float over sea talked about in Ramayana. Engineers have always tried to make a plane which is often controlled by hand ...
  • Response
    Air shows it Spaccio Moncler Milano ems,Spaccio Moncler Milano It was always a matter of curiosity among scienti Outlet Prada On Line sts that how stones can float over sea talked about in Ramayana. Engineers have always tried to make a plane which is often controlled by hand ...
  • Response
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    Response: Trilastin Sr
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    Response: Trilastin Sr
    Coverage Plus Insurance Agency | Campbell, CA - Blog - What is in a Standard Homeowners Insurance Policy?
  • Response
    Response: 女装夏装批发
    环球网记者张哲报道据韩国媒体报道,韩国仍然无法采取有效的措施来遏制口蹄疫传播,随着口蹄疫不断扩散,韩国政府决定 饰品配饰批发 将危机应对警报阶段提升到最高水平--"严峻". 报道最后指出,截至本月28日,韩国发生口蹄疫的地区从5个市增加到了29个市及郡 饰品配饰批发 [转自:饰品配饰批发(http://www.51pifa.org/FuZhuang/)]. 报道称,韩国政府的方针是设立中央灾难安全对策本部,在泛政府层面采取应对.整个韩国的行政安全部公务员和警察将被动员,以开展口蹄疫防疫
  • Response
    Response: lv官網
      设计师汉娜·麦克吉本 (Ha lv官方網 nnah MacGibbon) 在她为蔻依 (Chloe) 所做的最后 chanel j12 陶瓷錶價格 一个系列:2011秋冬女装系列中,使用了大胆张扬的蟒蛇纹图案,来打造她心中的丛林仙女形象。除了飘飘若仙的衣衫,蔻依 (Chloe) 2011秋冬的配饰中,也同样用上蟒蛇纹来点缀实用的大号桶包、精致的翻盖小挎包或是粗跟高跟鞋,而鲜艳的草绿与橙色,也让风格简洁的配饰呈现出更强的视觉冲击力。  蔻依 (Chloe gucci手錶目錄 ) 2011秋冬系列是前任创意总监汉娜·麦克吉本 (Hannah MacGibbon) l
  • Response
    Response: nike air max
      郑爽   从起初的“谈网色变”到 rolex手錶促銷 匆匆地“触网”,奢靡品在这条途径上前进得迟缓而谨严。但基于 coach 包包型錄 coach 国人对奢侈品跟大牌的热衷,电商们仍然不知疲倦地开垦海内奢侈品网购的荒土。   艾瑞征询猜测,2015年我国奢侈品网购交易范围或达372.4亿元。相互厮杀的电商们都冀望自己能从中多分得多少杯羹。然而,非奢侈品牌官方授权的进货渠道就像一枚隐形炸弹,随时可能爆炸挡住这条财路。    lv包包型錄 近日,当当网被曝售卖假卡西欧腕表就是典范案例,曾有业内人士向《第一财经日报》记者流露,眼下国内99%的奢侈品网购
  • Response
    Response: converse官方網
      时尚界永远是只见新人笑不见后人哭。曾出过Karl Lagerfeld跟 Stella McCartney等大牌设计师的法国品牌Chloé终于换走了不太 勞力士水鬼王 卖座的Hannah McGibbons,迎来了一位新人! Cla prada 皮夾目錄 re Waight Keller   日前,Chloé履行主座Geoffroy de la Bourdonnaye就通过Twitter(这年头,分别都风行在微博上说)和公司网站,同时发布说从6月1日开始,Chloé将由苏格兰顶级毛衣品牌Pringle 勞力士水鬼王 of Sc gucci官方網 o

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>
« Are There Different Types of (Homeowners) Policies? | Main | What Is Homeowners Insurance? »

Coverage Plus Insurance Agency | Insuring Your Future... | License # 0B23442
750 E McGlincy Lane Ste 109 | Campbell, CA 95008
Phone: 408-626-7800 | Fax: 408-626-7676

About Us | Contact | Privacy Statement | Terms of Use

Powered by Awesurance | Login

" "