Have you taken the time to explore what your home insurance policy offers? Many property owners don't think twice about what is and is not included on their home insurance. You may even assume you can use your policy whenever you are facing significant damage to the structure. That may not be the case. Take a look at what is included in a traditional, standard home insurance policy, and then make adjustments to ensure you have enough coverage to safeguard your property.
Structure of Your Home
The largest component of your home's policy is structural coverage. This means your policy will cover costs to rebuild or repair your home in instances of sudden or accidental structural damage such as that brought on by hail, lightning and fire. It can also cover hurricanes, flooding and earthquakes if you have special riders in place—most basic policies need this added to them, though!
Protection for Your Belongings
In addition to covering your home's structure, your home insurance policy also covers the contents of it. About 50 to 70 percent of the insurance on your structure is coverage for contents. That is, the policy generally covers contents up to 50 or 70 percent of the value of coverage on the structure. If this is not enough to cover the value of your belongings, you may need additional policies to cover high-end valuables.
Liability insurance protects you from lawsuits and pays for your legal defense in situations where someone is hurt on your property or because of your property. For example, if your pet bites someone, which leads to medical bills, liability insurance can help. Most liability policies start at $100,000, but they can be higher. It may be best to increase this to add more protection from lawsuits.
Additional Living Expenses
Your home insurance also covers additional living expenses, such as costs for hotel bills, meals and other expenses in situations where a covered incident keeps you from living in your home for an extended period of time.
Does your home insurance provide you with the protection you need? It is a good idea to review your coverage on an ongoing basis and to make sure the protection is comprehensive enough to safeguard your biggest investment.
Get the coverage you need. Call Peachstate Insurance at (877) 997-2478 for more information on Woodstock GA home insurance.