So what is it?
A homeowners insurance policy protects your home and your family. With local insurance agents in Colonial Heights, we’re here to help. Homeowners insurance is basically a policy that covers the following two things:
- Your property.
- Your liability.
For example, homeowners insurance will pay for damage and destruction of your property in a loss. Also, it covers you if you’re sued for accidents that occur at your home.
There are several different coverages in your home insurance policy to look at. Here is the most basic run-down.
What are some common coverages?
Dwelling coverage
This coverage protects the structure, the appliances and the wall-to-wall carpet inside your home. The dwelling amount is based on the cost to rebuild a house with like materials, and not the market value.
Your “dwelling” refers to your house and anything connected to it, such as an attached garage or cellar. In the event of a claim, this will help to cover repairs or any rebuilding that takes place.
Other structures coverage
This coverage protects the structures on the property, not attached to the dwelling. This could be a shed, a garage or a guest house.
Personal property coverage
This protects all the stuff in your home. Your things. Like furniture and electronics. The amount is 50% of the dwelling amount, unless the policy states otherwise. And, replacement cost, or brand new belongings is always a good idea.
Liability coverage
This covers injuries sustained by guests on your property. It also covers expenses that may occur as a result. That means things like the individual’s medical bills, loss of income, pain and suffering and more. It could also cover your legal defense costs in the event of a dispute.
Loss of use coverage
This will cover you in case you need to move out temporarily, due to a covered loss. It’s additional living expenses. Here’s an example. We’d pay for the hotel or apartment if you have to move out of your home during the repairs, after a covered loss.
Need an insurance agent in Colonial Heights, VA?
Radke Insurance can help you protect the things you care about. We have a team of insurance agents in Colonial Heights, ready to take care of your needs. Or, you can shop online and get a free quote in 90 seconds or less.
