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.

---

Independent Insurance Agents Unite! Insurance and Financial Discussion Forums are all the Rage

The online discussion forum has emerged as the medium of... Read More

Entrepreneurs, Fill in the Gaps of Your Homeowners Policy

Business Owners Policies for the Self-EmployedWho needs a business owner's... Read More

Health Savings Account (HSA): Do I Lose It At the End of Each Year?

The Health Savings Account (HSA) is an amazing tool to... Read More

Car Insurance Advice for Young Drivers in the UK

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

What Is Homeowners Insurance Coverage?

Before attempting to find the best homeowners insurance coverage you... Read More

Medical Insurance - Health Insurance Coverage & Plans Explained

If you're trying to decide between health insurance plans, you'll... Read More

Life Insurance Without Life Value: Why Young People Are Snubbing Financial Advice

This article is written by a 27 year old female... Read More

Insurance in Northern Ireland: Historic Difficulties

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

Insurance Adjusters How They Work And How They Think

Here comes the insurance adjuster. Is he overly friendly? If... Read More

Everything You Need to Know About Life Insurance

Life insurance is a type of protection that can be... Read More

We Dont Need Another Broker: How To Get The Best Liability Insurance Rates Available

Some business relationships are forged through blood and friendship. When... Read More

Long-Term Care Insurance: Eldercare Solution

When I suddenly had to become a fulltime caregiver to... Read More

Bankers Long Term Care Insurance

How many times have you seen people whose life was... Read More

What Is Permanent Life Insurance?

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

Online Insurance: The End of the High Street Broker?

When I was a lad, some 25 years ago, the... Read More

Why Do You Need Homeowners Insurance?

The biggest single investment most people make in their lifetime... Read More

How Much Car Insurance Should You Buy?

Car insurance is one of the most dreaded chunks in... Read More

What Answers To Questions For A Home Insurance Price Quote Will I Need To Know?

Lets face it, finding the best home insurance price quote... Read More

Health Savings Account (HSA): Helpful for Older People?

The Health Savings Account (HSA) is an amazing tool that... Read More

The Life Insurance Policy and Its Best Kept Secret

Do you love someone deeply enough to spend your hard... Read More

The Awful Truth about Annuity and Insurance Leads

You see the websites, you see the ads: exclusive, never... Read More

10 Ways to Lower Your Auto Insurance

Nowadays, auto insurance is really expensive. A typical insurance policy... Read More

Why Buy Life Insurance?

Love. Yes, that's right. Love for your spouse, children, family,... Read More

Car Insurance Gearing up to Drive Down Costs

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

House Insurance - Forcible and Violent Entry

Forcible and violent entry (f&ve) is the terminology used within... Read More

High Risk Auto Insurance - How to Lower Rates

How is your driving record lately? Do you have a... Read More

Term Life And Whole Life Insurance

Which type of policy is best for you, term or... Read More

Car Insurance No Claims Bonus Explained

No Claims Bonus is a term used to describe the... Read More

Should You Have Higher Deductibles On Your Coverage?

What is a deductible? A deductible is the amount you... Read More

Need Low-cost Temporary Family Health Insurance?

Many families will find themselves without medical coverage at some... Read More

Disaster Decision - Do You Need Insurance?

The expenses involved with owning a home can be overwhelming... Read More

Choosing Buy-To-Let Property Insurance

Risk is an area often overlooked by landlords, but failing... Read More

Individual or Family Health Insurance Options

As more and more individuals working at home with or... Read More