Understanding What Your Home Insurance Actually Covers

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Every homeowner needs to have home insurance to cover the unexpected. However, you'll want to know what you are actually buying coverage for so that you know what it can be used on.

The Dwelling

Your home insurance policy is going to cover the dwelling if it is damaged due to several weather-related incidents. The most common one is wind, which can happen when a strong storm comes through town and leaves your home with significant damage. You'll also have protection from hail, as well as lightning strikes that hit your home. 

You'll also have coverage in the event of a house fire. The fire and smoke can quickly cause your entire home to be damaged, and it's important to know that you have the coverage needed to rebuild or restore your home in this situation.

However, there are some types of damage that is not covered unless you purchase additional coverage. For example, water damage caused by flooding requires flood insurance.

The External Structures

Anything built around your home is going to be covered under your home insurance policy in the exact same way as the main dwelling. This includes if you have a detached garage on your property or a shed. The physical items installed in your yard are also covered, such as a fence that gets destroyed by a bad storm.

The Personal Property

All of the items in your home are going to be covered under the personal property section of your home insurance coverage. This includes your furniture, clothing, electronics, and appliances. They are covered under the same type of damage as your dwelling, but the coverage can include theft as well. 

Keep in mind that you may need a special policy to cover some items in your home. For example, expensive jewelry, artwork, firearms, and furs often require an additional policy if you want the items replaced or repaired with your home insurance policy.

The Liability Coverage 

Were you aware that you also have protection from lawsuits with your home insurance policy? If someone is hurt on your property and tries to sue you for the damages, you have protection from the legal cost and the potential settlement. Of course, you must pay your deductible before this coverage kicks in, but it can protect you from things such as slip-and-fall accidents or dog bites that happen on your property. 

Reach out to an insurance agent at a company like Phillip R Davis Insurance for more info about your home insurance coverage.