Real Estate

Essential Home Insurance Coverages

Homeowners insurance is an important investment in protecting your home and your family. A good home policy will not only protect your home against damage or destruction, but it can also protect you financially if you are sued for an injury, or if your belongings are stolen. These are the basic types of home insurance coverages most homeowners insurance policies carry.

Property Insurance

Most homeowners policies, such as home insurance Newark DE, cover your home against fire, windstorm, hail, theft, vandalism, and falling objects like trees. A basic homeowner’s policy usually covers the structure of the building and the personal property in those buildings. You may want to take regular photos of your property and the contents of your home in case you need to make a claim. 

Liability Insurance

In addition to property insurance, your insurance policy is likely to include coverage for liability risks. Liability risks cover medical treatment and lost wages for any injury that happens on your property to someone who does not live on the property. For example, if a visitor slips and falls on your front steps, the treatment for their injuries would be covered by your home liability insurance. 

Additional Coverages

Your swimming pool and outbuildings are likely covered under your regular home policy. However, there are some coverages that often are not included in homeowners policies. These include floods, earthquakes, and damage because of negligence or lack of upkeep of the property. Artwork and jewelry may also need additional policies to be fully covered. 

Planning for the future is important. Damage to your home could incur a considerable financial loss if you do not have adequate coverage. A homeowner’s insurance policy will ensure that your most valuable asset is protected. Discuss your coverage with a qualified insurance agent to make sure your policy does not have any gaps.