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Homeowners Insurance: What Proetction does it offer?
A standard homeowners insurance policy insures the home itself and the things you keep in it. It is typically a package policy, which means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. Let’s look at each coverage part in more detail:
Part l: Property Protection
Dwelling: This offers protection as a result of damage to the structure of your home including fixtures, plumbing, and heating due to a covered loss, such as fire or hail storm damage. It does not cover the normal wear and tear of your home or maintenance-related problems. You need enough coverage for the cost of rebuilding or repairing your home, less the cost of the land. Determining this new replacement can be somewhat complex, but we can assist with this process.
Other Structures: This includes coverage for detached structures, such as a garage, garden shed, and fixtures attached to land such as a driveway, sidewalks, patio, fence, and swimming pool.
Personal Property: This covers the contents and personal items in your home such as furniture, clothing, and sporting goods.