Home Insurance Quote
Get cheaper quotes on home owners property insurance policies with huge benefits. Whatever the space you live in, it is prone to damage, so having a home insurance policy means being able to handle the financial aspect of having your house or apartment damaged or destroyed. When possessions are concerned, most people prefer to know that they will get reimbursement should something happen to their property. In this guide, we’ll cover such issues as what home insurance implies, what discounts can apply, and what extra features you may be offered.
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Common home insurance policies are designed to cover the events which result in loss of property/belongings or having it damaged. Here are the basic features of a home insurance policy, which are seen most often.
Dwelling coverage. The first thing that is covered by a home policy is the building itself, e.g. the elements of which your house consists: walls, basement, etc. All attached structures also belong to this category, so your attached garage is considered to be part of your house.
Other structures. Most people have other structures that can be found in the same area; these may include sheds, garages (detached ones), pole barns, etc.
Property. Everything you keep within your area can be insured. From furniture to decorations, your belongings are also subject to reimbursement under the conditions of your policy.
Personal liability. One of the most important home policy features, personal liability is designed to help you handle the cases in which you have to face consequences of an incident. Lawsuits resulting from them will be handled by your insurer if you obtain a home insurance policy.
Extra expenses. Should your apartment or house become uninhabitable, your insurer will provide you with resources to rent a place to live in until your own home is restored. Some companies also include expenses related to groceries because renting a place or staying at a hotel may mean eating out more often.
These are the features which are common and present in all home policies. Yet the coverage that your home policy can provide is not limited to the above mentioned things.
What Extra Coverage Options Are There?
Med payments to others. If a person who has come to your place gets injured, you will have to pay for the med bills. To avoid such expenses, you can ask the insurer to add the feature to your policy. You never know when your neighbor stumbles while going downstairs, so be ready to pay for his treatment.
Sewers/drain water backup. One of the claims seen most often, water backup is a must if you don’t want to handle the consequences of water damaging your electrical system, carpeting, basement, etc. Note that this option is different from flood insurance policies and damage done by floods is not included in common home policy coverage!
Full home replacement cost. There are companies (one of which is Auto-Owners, for example) that offer the option to provide home replacement cost at a guaranteed level (e.g. the full cost) because the coverage limit can prevent you from restoring your home.
Law coverage. If a local (or some other) law implies that your property must be demolished or repaired (or some other construction rules are changed), your insurer will handle the expenses resulting from such situations.
Food spoilage. Should your frozen food supplies spoil because of a power failure, you will be reimbursed the cost of the lost food. Extended property coverage. If you believe your property needs extra insurance options that would apply to cases of staining and defacing, you can opt for this extra feature.
Equipment failure. Some insurers offer options that enable you to get resources to repair broken equipment, which may include fridges, air conditioners, etc. Service line repair. In most houses, there is an underground service line, which is prone to rusting and other source of damage. This type of coverage may help you manage the repairing of such systems.
Identity theft. Many insurers offer either ID protection that is ‘integrated’ in home policies or ID protection in the form of a separate policy. Fire department charges. In some cases, your insurer can offer you fire department charge reimbursement. For example, this option is offered by Esurance.
What Discounts Can I Be Eligible For?
Auto-Owners, Esurance, AllState, Progressive, Geico, and many others: the range of insurers providing services related to home insurance policies is really impressive. Among the ways to save are bundling (the most popular bundling implies obtaining both auto and home policies), going paperless (handling your documents online), insuring a new home, installing safety devices, being a student, signing up for a DIY home inspection, being claim-free, adding storm shutters, having a hail-resistant roof, and even quitting smoking. This list is not comprehensive and there can be other discounts you may be eligible for!