What Does a Home Insurance Policy Cover
General Articles

What Does a Home Insurance Policy Cover?

  • September 21, 2017

When purchasing or reviewing your homeowners insurance policy, note what it can and cannot cover.

Home insurance is there to protect your home, building, and belongings in the event of a peril that is listed on your policy. This prevents you from being financially strained from rebuilding your home and replacing your losses. Before you opt for the most basic policy, you should always look at what coverage you’re buying and what you’re missing. Below is what a standard homeowners insurance policy can and cannot protect.

Natural Disasters – Typically, homeowners insurance provides broad coverage for damage caused by disasters or other perils. This can include incidents such as fire, lightning, tornadoes, wind storms, hail, explosions, smoke, vandalism, and theft. You should check your dollar limits of insurance in your policy and make sure that you are comfortable with the amount of insurance for specific items.

Valuable Items – Most of your possessions will be covered under a standard policy. If you have high-value items, such as artwork and jewelry, you’ll need additional insurance to make sure that your precious pieces are protected.

Flood Damage – Homeowners insurance does not typically cover flood damage. Flood insurance is a separate insurance policy and it is a good idea to purchase this as it covers flooding from rain, mudslides, pipe bursts, and more. You may purchase insurance in the form of a separate policy from the National Flood Insurance Program so that you can get assistance should your home face damage from a flood.

Earthquakes – Earthquake coverage is an additional coverage to the homeowners policy. The cost of coverage can vary significantly in areas, depending on the risk of an earthquake – Talk to your insurer to find out if your home could be at risk.

Liability Protection – Your policy will pay for damages done to your property, legal expenses, and medical bills for accidents that occur on your property. The standard dollar coverage is $100,000, but higher limits are available and recommended if you have higher risk factors.

Trees – If a tree falls during a storm and damages your roof or building, you are covered for the damage as well as the costs of removing the tree. To prevent this, be sure to cut down dead or dying trees that are located close to your home.

Find the right home insurance policy for your needs and budget today. The professional team at Falsken & Associates Insurance Agency serves Thousand Oaks and surrounding areas in California with reliable home coverage. Contact us to get started.