Being a homeowner is an exciting thing, it may leave some people with questions. Do you know exactly what is covered by your homeowners insurance policy? Every basic home insurance policy provides a package of insurance protection for your home, with different types of coverage included. Let us take the guesswork out of your homeowners insurance with this simple guide!
What Homeowners Insurance Covers
- Dwelling: This covers your home and attached structures. It usually includes plumbing, wiring, heating, and permanently installed air conditioning in the event of a covered peril.
- Other structures: Other structures or buildings, like guest houses, sheds, and fences, are also covered in case of covered perils.
- Personal property: Your policy should reimburse you for covered damage or loss of your possessions. This includes appliances, laptops, jewelry, and clothes, and they may even be covered if they are not on your property at the time of loss.
- Loss of use: This provides some reimbursement for additional living expenses if you need to vacate your home during repairs or rebuilding.
- Liability: This helps cover your financial losses if you are found responsible for damage or injury to others. In some cases, it may even cover legal defense against a claim.
- Medical payments: Your policy should cover the medical bills of people injured on your property.
Typically Not Covered By Standard Policies:
Flooding: While your policy will protect you from many different types of damage, flood insurance is an add-on to your policy and purchased separately from a carrier. Flood insurance is relatively inexpensive and can save you thousands in damage costs. Talk with your agent about obtaining a flood insurance policy.
Exotic Pets & Some Dog Breeds: Before signing a homeowners policy, it is crucial to have a conversation with your agent and disclose all of the pets in your home. This will ensure that you have the correct coverage and are not left without protection when you need it most.
Solar Rack Systems: Many Florida insurance carriers do not cover damage to home solar systems. In addition, a roof mounted solar rack system can void your roof warranty. Because of potential damage to your roof with these types of systems, many carriers will no longer offer coverage for your home. It’s important to have a conversation with your agent about your coverage before choosing your policy.
We Help Our Clients Understand Florida Homeowners Insurance
Our Southern Oak agents are ready to help with competitive home insurance quotes, advice, and a commitment to customer service. Contact us today to speak with an agent regarding your unique insurance coverage.
Take a deeper look into homeowners coverage by downloading our Home Insurance Claims eBook, filled with unique situations and whether or not you’d be covered. Click the image to get your free copy!