You are probably wondering what you can protect with home insurance. Will the insurance cover the house itself? What about the household property? Can it be extended to cover other structures apart from your house? Fortunately, there are several home insurance options for home owners. You have the option of deciding exactly what property you’d want covered. The type of insurance you choose largely depends on your insurance budget, potential perils and the type of property in your home. Here’s is a comprehensive list of the property you can cover.
The Main House Structure
Dwelling coverage can be used to insure your house against a range of potential problems such as fire, hail or lightning. You policy will dictate the particular perils which would entitle you to reimbursement or structure repair. The higher the probabilities of a serious problem, the higher the premiums you’ll pay for protection against that problem. Similarly, you’ll pay more if you choose a policy that covers a greater number of dangers.
Other Structures In Your Home
Some of the additional structures you may have in your home include your garage, gazebo, or detached servant quarters. To cover these structures, you’ll have to pay an additional 10% of the amount you’ve paid for your dwelling coverage. Your premiums however, may not be entirely subjected to this principle. The insurance company can adjust them according to how your property is structured and the likelihood of natural disaster.
Your standard home insurance coverage can also be extended to cover your household property. Some examples of the type of property you can cover are electronics, furniture and clothing. The premiums for this coverage depend on the estimated value of your household goods and the types of loss covered by your policy.
Other policies provided in home insurance policies include:
- Medical Payments: The MedPay Home Insurance pays medical bills for individuals who are injured while on your property. This coverage can be claimed without the victim filing a lawsuit.It doesn’t cover illnesses or routine injuries that are not related to problems in your home.
- Personal Liability Protection: Personal Liability Protection coverage protects you from lawsuits filed against you for any damages or injuries caused by you, your pets or your property while people are visiting your home. The insurance company pays for the defense and consequent victim compensation if you lose the case.
- Loss of Use: This coverage reimburses you for secondary residence costs if you have to move out of your home due to damage from a fire or other covered disaster.
If you have further questions regarding Virginia home insurance, please give us a call. We’re glad to use our extensive insurance knowledge and experience to help you sort out any problems or issues related to home insurance.