What Is Homeowners Insurance Coverage?

Before attempting to find the best homeowners insurance coverage you should make sure that you are familiar with what homeowners insurance is and what it can do for you. A standard policy provides financial coverage to your house and the property within the house. Natural disasters, theft and other maladies that can occur are usually covered in your policy. Some exceptions include flood and earthquake protection, which require additional coverage. Another feature that home insurance covers is damage caused by household pets and any legal liabilities to anyone caused harm by yourself or family members on your property.

The amount of house insurance you may require is based on 4 areas: Home structure, personal property, liability for protection to others and some additional costs associated with repairs to your home.

House Structure

? Always make sure you obtain enough insurance to cover the cost incurred to rebuild your current home at today's market prices in the event a natural disaster should take place. You don't really need to include the cost of the land and you shouldn't base the amount on the price you paid for your house as the cost of rebuilding fluctuates.

Personal Property

? As much as you value your personal possessions many insurance policies will only provide coverage between 50% and 70% based on your current homeowners insurance coverage. You play a big part in making sure your property is properly covered so make sure to do an inventory listing all of your possessions. Try to be as detailed as possible, after all this is your property and you deserve to be reimbursed if anything bas happens. You'll have to be careful in this area. If you own expensive jewelry or furs then you should seek out additional coverage through a floater or endorsement policy. In most cases an insurance company will only compensate you $1000 to $2000 for jewelry or furs that are stolen or lost in a fire. I can relate a true story to you where my wife and I had $12,000 worth of jewelry stolen and were only reimbursed $1000 because we didn't have additional coverage for her jewelry collection with a floater. The lesson learned was always to make sure our possessions were accurately and correctly insured against future losses.

Liability Coverage

- This part of your homeowners insurance coverage provides protection for 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 pets. It pays for both the cost of defending you in court and for any damages a court rules you must pay. Although many insurance companies provide $100,000 worth of coverage, it's a good idea to increase that amount to $300,000 or more.

Additional Costs - This pays the additional costs of temporarily living away from your home if you can't live in it due to a fire, severe storm or other insured disaster. It covers hotel bills, restaurant meals and other living expenses incurred while your home is being rebuilt. If you live in an area with a high propensity of natural disasters then you definitely want to make sure you're adequately covered here.

Hopefully this information detailing what homeowners insurance coverage was helpful and gave you a better idea of what your standard house insurance policy is comprised of.

Timothy Gorman is a successful webmaster and publisher of Best-Free-Insurance-Quotes.com. He provides more insurance information and offers discount auto, life and home insurance that you can research in your pajamas on his website.

Other websites operated by Tim
Cellular-Phone-Solutions.com - Free information and resources regarding cell phones and cell phone plans.

Military-Loans-Online.com ? Which provides free money saving loan quotes on all of your loan needs to include home equity loan information.

In The News:


pen paper and inkwell


cat break through


Senior Life Settlements- A New Financial Dawn Emerges

When delving deeper into the market-driven research on the myriads... Read More

Insurance in Northern Ireland: Historic Difficulties

No doubt most readers will have heard of the Northern... Read More

Car Insurance Gearing up to Drive Down Costs

For once finances seem to be going in favour of... Read More

Health and Dental Insurance Quotes - Applying Online

Since 2001, large health and dental insurance companies such as... Read More

Auto Insurance Rates

Auto insurance rates will vary depending on the insurance agency,... Read More

What Is Permanent Life Insurance?

Unlike term life insurance, permanent insurance policies such as universal... Read More

Insurance Glossary of Terms

Assured - Those insured under the terms of an insurance... Read More

How To Negotiate A Settlement With An Insurance Claims Adjuster

You and I. M. Strong, the adjuster from Granite Mountain... Read More

Why Bother With Farmers Auto Insurance?

Farmers auto insurance is a very large insurance company that... Read More

General Knowledge - Critical Illness Insurance

Critical illness can happen to anyone, and often does. If... Read More

The Surety Bond Domino Effect

I have written many articles about the hard surety bond... Read More

Car Insurance Advice for Young Drivers in the UK

Over the course of the last ten years, car insurance... Read More

What Are The Auto Liability Insurance State Minimums For My State?

As you shop online for the best auto insurance deals... Read More

Auto Insurance Basics

Most people only think that insurance is something they need... Read More

Long Term Care Insurance How Much Should I Buy?

Long-term care insurance policies have a variety of features and... Read More

How Much Renters Insurance Do I Need?

When obtaining renter's insurance it is important to put serious... Read More

Apply Online for Temporary Health Insurance

There are times when you'll find yourself temporarily without health... Read More

10 Ways To Save On Car Insurance

For most people car insurance is a the single largest... Read More

Japanese Overseas Travel Insurance

If you are an expatriate planning on long-term residence in... Read More

Origin Of Long Term Care Insurance

In the early 1980's Medicare started using a system called... Read More

What Does Buildings Insurance Cover?

You will find that your lender will insist that you... Read More

10 Tips to Save on Healthcare Insurance

Americans shopping for their own healthcare insurance can substantially cut... Read More

About Accidental Death Dismemberment Insurance Quote

We don't hear much about getting an accidental death dismemberment... Read More

Life Insurance Fears Post the London Bombings Tragedy

Following on from the tube train and bus bomb attacks... Read More

Factors That Affect Your Car Insurance Premium

Many factors affect the premium you will pay for auto... Read More

Life Insurance ? Do You Need It?

Many people are skittish about life insurance, because they feel... Read More

5 Strategies To Reduce Your Car Insurance Premiums

Your latest car insurance bill has arrived and it is... Read More

What is Car Insurance?

Car Insurance is compulsory in the UK. You are required... Read More

Gain An Advantage Over Your Competition By Controlling The Cost Of Your Health Insurance

As many of us expect, the New Year will bring... Read More

Health Insurance for the Beginner

When it comes to your family, selecting the right health... Read More

MSA or HSA: Can I Keep My MSA Or Do I Need to Convert it into an HSA?

The Medical Savings Account (MSA) is an older form of... Read More

New Concepts in Car Insurance - Pay as You Drive

You can pay as you talk with a cell phone... Read More

Choosing Long-Term Care Insurance

A little over sixty percent of the folks who reach... Read More