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Finding Enough Insurance Coverage

When it comes to making sure that your home and family are safe and sound, few things are as important as choosing the right insurance plan. About six months ago, my home burned to the ground, and without the right insurance plan, we would have been toast financially. Fortunately, because we had prepared properly, we didn't have any problems when it came to making sure that we could rebuild our place. This website is here to help anyone who might be struggling with which insurance policy to choose. Check out this blog for great information on finding the perfect policy.


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Finding Enough Insurance Coverage

6 Ways Home Insurance Protects You

by Jason Prescott

When it comes to protecting your home, one of the best ways to do so is with homeowner's insurance. Homeowner's insurance can provide you with a wide range of coverage. It is important to understand all the different coverage types that are available to you.

Coverage Type #1: Dwelling

Dwelling coverage is designed to provide you with money to fix any damage to your home. Typically, your coverage should be set-up so that if your home was destroyed, you would have enough money to completely rebuild your home. This is the primary type of coverage that most people associate with home insurance.

Coverage Type #2: Other Structures

Other structure coverage is designed to provide you with protection for other large physical structures on your property, such as a fence or a shed or carport on your property. Generally, other structure coverage is capped at a percentage of your total dwelling coverage. For example, if your dwelling coverage is $200,000, and your other structure coverage is 10%, your insurance would pay up to $20,000 to fix other structures that are damaged on your property.

Coverage Type #3: Personal Property

Next, your home insurance protects your personal property. You can generally choose the limit or amount of personal property protection you want to have, which should be close to the value of all your personal belongings. Personal property protection comes into play if your property is stolen from your home, or damaged during a covered event.

Coverage Type #4: Additional Living Expenses

If your home is damaged, and you can't live in your home while it is being repaired, that is where additional living expenses comes into play. With additional living expenses, your insurance will pay for a hotel or rental home while your home is getting fixed. Additional living expenses will also cover additional things you have to pay for, like more money for your food budget or boarding for your pets.

Coverage Type #5: Liability Coverage

Next, you will get liability coverage so that if someone is damaged on your property, and they sue you, you will have money to pay them. With this coverage, you can vary the amount that you pay for. It is a good idea to go with more liability coverage than less.

 Coverage Type #6: Medical Payment

An accident in your property doesn't always have to end with a lawsuit. If someone is hurt on your property, your medical payment coverage will pay their medical bills, up to your coverage limit.

With home insurance, you will get the six different types of coverage listed above. The coverage amounts for each type of coverage can vary, so be sure to check your policy limits to make sure you have enough coverage.