Home insurance is a type of property insurance that covers the losses and damages incurred to an individual’s house and to the assets in the home. Payments made towards a home insurance is usually carried out in the form of monthly payments which might be included in the homeowner’s mortgage. It is important for you to know the basics before you make an informed decision.
A standard home insurance quote must include the following coverage.
This cover consists of bodily injury damage coverage. It also covers the costs in case a guest sustains an injury in your home or on your property. It also covers property damage coverage.
This coverage protects items that include furniture and clothing of your home. The home insurance quotes are designed in such a way that you would receive funds for the value of these items.
This the basis of all the home insurance quotes. It provides coverage for the structure of your home that includes floods, walls, built-in appliances, ceilings as well as attached structures. It also covers for a variety of perils that includes fire, rainstorm, theft or vandalism. This cover helps you rebuild your home in the event of a total loss.
The three coverages mentioned above do not cover everything. For instance, dwelling coverage does not cover for damages incurred in the event of a flood. Hence, it is a good idea to customize your home insurance quote with additional coverage.
You may consider following add-ons to your home insurance quote
It protects your home and belongings from flood-related damages. It comes as a separate policy that has its own deductible. It is a good idea to opt for this coverage if you live in a state or area that is prone to flooding.
Replacement cost plus
This adds an extra level of protection in your home insurance quote. It provides additional coverage to rebuild a home after a total loss. Replacement cost plus the coverage is a good option if a property is owned for an extended period of time.
Other structure insurance
This covers for the property that is unattached to your homes such as an unattached garage or a gazebo. If you have any of these structures on your property, you might as well get this cover added to your home insurance quote.
To conclude, home insurance quotes should be unique to the home and home owner needs.