When you own your own house, you know that you are going to be required to have homeowner’s insurance on it. This is more than just coverage for your home and the structures surrounding it though. There are a lot of different reasons why you need homeowner’s insurance. InsureWise is here to talk about some of the things that you will find in a homeowner’s insurance policy that may surprise you.
Coverage of Your Home & Surrounding Structures
Your home and the structures found near it on your property will be covered in your homeowner’s policy. Most insurance companies will want to have an inspection done so that they know the value of the home and structures that they will be covering.
What is Personal Property Coverage in Insurance?
Not only is your home covered, but the possessions that are found inside of it will be covered as well. If they are damaged along with your home for any reason, your policy will cover them. When it comes to your personal property, here are a few things that you should consider when it comes to personal property coverage.
– Inventory: You will want to take an inventory of the items that are found in your home. It can be helpful to take picture of each room as you make a detailed list of your belongings.
– Understand the Policy: All policies are different in the way that they will pay out for your personal belongings. Some will give you the actual cash value for your belongings and others will guarantee the cost of replacement which is usually a much higher amount of money.
– Extra Coverage for High Valued Items: Most policies will have limits in place for personal property coverage. If you have several high valued items that are going to put you over that limit, you will need to get additional coverage for them.
Personal Liability Coverage
If there is a person that gets injured on your property and it is your fault, you want to make sure you are going to have the insurance needed to offer you protection. Make sure you know what the coverage is so that you can get additional coverage if you feel that you don’t have enough coverage.
Additional Homeowners Insurance Coverages
For some locations, you may need to have additional coverage. Here are some examples of that.
– Flood: Anyone living in a flood plain will need to have flood insurance on their house.
– Earthquake: This is also something most standard policies won’t cover and will require additional coverage.
– Service Line: If there is extensive damage to the utility lines for water, electrical power, and more, you will want extra coverage.
Homeowner’s Insurance Policies & More in Las Vegas, Henderson, Reno, North Las Vegas, Summerlin, Paradise, Spring Valley, Sunrise Manor, Enterprise, Sparks, Carson City & State of Nevada
If you’re looking for a new homeowner’s insurance policy, you can turn to InsureWise to help you find the right fit for your needs. We will find you just what you’re looking for. Call us today or fill out this quick online quote form.