Are you looking for homeowners insurance policies but aren’t sure if you’re choosing the right insurance agency or policy? Home insurance policies are designed to protect you against unforeseeable damage to your home, but different insurance companies have different policies that include and exclude certain things. The good news is that an independent insurance agent has the ability to find numerous policies from numerous companies so that you can find the best home insurance for your needs. To learn more about insurance policies for your home, keep reading.
Understanding What Homeowners Insurance Policies Include and Exclude
In order to determine if you have the best home insurance policy for your needs, it’s important to read through the policy to find out what it includes and what it specifically excludes.
General Items Covered in a Home Insurance Policy
Home insurance policies are typically designed to cover certain types of damage to your home and your personal property. Common damages that are covered include fire, theft, vandalism and certain types of weather damage.
- Damage to Outbuildings – typically includes garages, sheds and fencing
- Damage to Personal Property – typically includes clothing, furniture, lawn equipment and electronics
- Damage to the Home – Covers damages to your house, like the roof exterior and interior walls and flooring
- Living Expenses – designed to provide money for a hotel and other living expenses if your home is so damaged that you cannot live in it until repairs are completed.
- Medical Expenses – covers the medical expenses for individuals who do not live on your property if they get injured while on your property.
- Personal Liability – designed to protect you if someone files a claim for an accident that occurs on your property.
Items That May Not Be Covered in a Home Insurance Policy
To find the best home insurance policy for your needs, it’s important to read through the exclusions. These are items or certain types of damage that may not be covered by the policy. The good news is that if you need an additional item covered, the independent insurance agency can often customize your policy to include that item.
- Personal Injuries – Homeowners policies typically cover actual injuries to a person’s body and the structures on the property. They don’t typically cover damage to the home that occurs as the result of a wrongful arrest, search and seizure or an invasion of your rights or privacy. If you think these things could happen to you, you’ll need an additional endorsement.
- Home Businesses – Many home insurance policies cover damage costs to small home offices but since most people don’t work from home, the policy coverage typically only covers computer and business equipment up to $2,500. If you have a building dedicated to your home business or extremely expensive home business equipment, you’ll need to talk to your insurance agent about adding comprehensive home business coverage or purchasing an additional policy.
- Flooding and Earthquakes – Most home policies specifically exclude coverage from flooding and earthquakes. To get coverage for these weather events, you’ll have to purchase separate policies.
Understanding the Things That May Disqualify You From a Home Insurance Policy
Insurance agencies determine eligibility according to certain risk factors. If you are deemed a high-risk homeowner, you may not be eligible for many insurance agencies’ policies. Instead, you’d have to choose a high-risk policy. Items that will often disqualify homeowners from receiving the best rates and sometimes make it impossible to get insurance coverage include:
- Having a criminal history
- Having a previously lapsed homeowners insurance policy
- Filing too many home insurance claims within a specific timeframe
- Not maintaining your home (Homeowners policies do not cover wear and tear or problems that arise from not performing routine maintenance.)
Getting the Best Home Insurance Policy From an Independent Insurance Agent
When it comes to getting the best home insurance policy for your family and your needs, you can choose to work with one of our independent agents. We have access to numerous policies from several different insurance carriers, which means we can help find the right policy for you.
For help finding the best home insurance policy for your needs, contact our insurance agents at Couri Insurance today by calling 262-548-8077.