What is Home Insurance Policy, and What does it Cover?
A home insurance policy protects your home and belongings from damages caused by specific factors. It can also cover you if you accidentally injure someone else or cause damage to their property.
According to the Core Logic, 14.5 million homes were impacted by natural disasters in 2021. In addition, Forbes reports that over 1 million burglaries occur in the United States annually.
Your home is your haven and should be treated as such. Aside from the fact that your home has a roof over your head, it may also be one of your most valuable possessions - that is why you must cover and protect it with the right home insurance policy. Home insurance covers a wide range of events and is a potential safety net for any financial disaster that may occur to your structure.
Below, we will go over the major events a home insurance policy covers, and you'll see that home insurance is necessary for every home.
Events Covered by Home Insurance Policies
1. Interior and exterior damage to your house
We all know how fickle and unpredictable mother nature can be. Suppose fire, lightning, or hurricanes damage the interior or exterior of your house, or even theft and any other events covered in your policy. In that case, you are entitled to compensation from your insurer.
2. Personal liabilities
Your homeowners insurance policy should also protect you in cases of personal liabilities sustained on your home premises. For instance, if your neighbor slipped on your lawn and was able to file a claim successfully, your policy should protect you. The policy also covers your kids; pets and actions that may have resulted in personal liabilities.
3. Protection for other structures
Most homeowners insurance policies will provide coverage for other structures in your premises, such as your garage, tool shed, etc.
4. Covers the cost of the hotel rental
In the case of an event where your house has to undergo some form of repair and you have to seek shelter at a hotel, your home insurance policy will come in handy then and cover the cost.
At SJ Insurance Services, being homeowners ourselves, we understand how valuable your
home is to you. As such, we will do our best to create the perfect home insurance policy that suits your needs. Kindly reach out to us should you have any questions.