What Does Average Homeowner’s Insurance Cover?

by | Mar 29, 2013 | Insurance

Homeowner’s insurance in Harrisburg PA is an important factor. Many home owners choose to insure their contents but neglect the actual building insurance. Being a homeowner, it is wise to insure your building as well as the contents inside because if you have a mortgage your home is technically still the property of your lender. Many banks will have their own coverage to protect your home if you lose it due to fire or other serious damage, but you will get nothing. If you have your own coverage it allows you to repair or rebuild in the event that the entire building is lost.

mortgageWhat is Covered?
There are different types and level of homeowner’s insurance coverage and you should do plenty of research before you decide on the best kind of plan for you and your home. Generally, basic level coverage is for the dwelling only and will cover repairs and rebuilds to the damage on your property. If, for example, your home in Harrisburg is victim to a hurricane or serious fire, your dwelling homeowners insurance Harrisburg PA will pay for repair and rebuild. Average coverage will give you a little more elbow room for other structures that exist on your property, like a garage or barn.

The contents of your home can also be covered and this pays for ‘as new’ replacements for defective, accidentally broken, stolen or damaged items. Contents include furniture, fixtures, fittings, electronic equipment, clothes, toys, and other chattels that you have bought for the home. You should always read the small print in your insurance policy before you sign it, however, to make sure that everything you need covered is actually covered.

Loss of use insurance can protect you in the event that your home becomes uninhabitable due to structural hazards, bad weather conditions or other reasons why you cannot live there until it is repaired. Most policies will cover the cost of temporary accommodation or other expenses while you are unable to live in your home.

Some homeowner’s insurance will also offer personal liability protection to cover you in the event that someone has an accident on your property. If they are hurt they could claim against you for damages and your insurance offers payouts and legal protection. This is also a medical coverage pay out, whereby the medical expenses of someone hurt while visiting you are paid.

The highest level of coverage will encompass all of the above and will cost you far more than an average or basic policy. Before you choose the right policy for you, decide what sort of coverage you need and what your budget is and work out the best kind of insurance for your home. Talk to an expert and get the best advice before you decide.

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