Homeowner’s insurance is essential to owning a home and protects your property and much of the stuff in it. Knowing what your homeowner’s insurance covers can save you thousands. When disaster strikes, it’s a comfort to know that your home and its belongings are covered! Depending on the policy, however, it’s hard to know for sure what is or is not covered. It’s important to contact your insurance agent to fully understand your policy and what it covers. But, to help you get started, we’ve compiled a list of situations that are covered by your homeowner’s insurance policy!
Situations You Didn’t Know Were Covered By Homeowner’s Insurance
The first situation may be pretty obvious, but is worth mentioning since it is the core of homeowner’s insurance: dwelling coverage. This part of homeowner’s insurance provides coverage to anything that is permanently attached to your home’s physical structure like the roof, a chimney, or an attached garage.
Personal liability coverage.
This protects you against financial loss if you are responsible for damage to another property. Sometimes, this can even include covering legal fees if the damage leads to a lawsuit.
So, if your child accidentally hits their baseball into your neighbor’s window and breaks the glass, your homeowner’s insurance will pay to replace the glass!.
Other structures coverage
This protects other structures on your property that aren’t necessarily attached to your dwelling that would otherwise be covered under dwelling coverage. This includes structures like fences, detached garages, garden sheds, or gazebos.
Personal property coverage
This protects larger personal items in your home. This includes electronics like computers, TVs, and even your surround sound system. It also includes furniture like your couch, bed frame or dining room table.
So, if you return from vacation to find your new HD TV was stolen, your homeowner’s insurance will cover the cost to replace it.
Situations That Aren’t Typically Covered By Homeowner’s Insurance
Knowing what your homeowner’s insurance doesn’t cover is just as crucial as what it does! Being aware of what coverages are absent from your policy can help you decide whether or not you want to explore additional insurance coverages.
These items are not usually covered in your homeowner’s insurance. But, if you talk to your agent about your policy, you may be able to add additional coverage options to cover these situations that are not typically included in your homeowner’s insurance policy.
- Damage caused by termites, vermin, and rodents
- Wear and tear