Features of a Good Homeowners Insurance Cover

According to research, owning a home gives you the peace of mind knowing you’re your future is guaranteed. Plus, a home is an investment. You can decide to sell it in the future. A home appreciates in value with time. In a nutshell, purchasing a home is one of the best things you can do to your financial life. But wait, owning a home is a nice idea. But did you know that a disaster can strike and destroy it completely? Plus, nobody can prevent disasters from happening. And that’s where a home insurance cover comes in. With a comprehensive home insurance cover, you have the peace of mind. Also, you won’t worry about things like fires, theft, water damage, and snow. So, if you want to stay on a safer side, invest in a home insurance cover with the following features.

Editor’s Note: Consider discussing your home insurance needs with your realtor. A realtor has the necessary skills and expertise to give you explicit information that can help you get it right when it comes to choosing the right cover. Also, for better results, compare home insurance at money expert.

Dwelling

This feature will cover your building—including all the structures that are attached to your building.

Other Structures

This feature covers any other unattached structure to the main building.

Personal Property

This aspect covers things that are not attached to your home. This includes clothing, furniture, electronics, etc. However, you must carefully read the policy. This is because this aspect might have restrictions—including covering things like currency, firearms, pieces of jewelry, as well as fine arts.

Loss of Use

This clause pays for any additional expenses during the repair of your house. Expenses such as hotel room costs, food, entertainment, etc. fall under this feature.

Medical Payments

A good homeowner insurance policy should have medical payments coverage. With this coverage, you can be sure that all your medical expenses that arise from home accidents are covered. For instance, if a tree falls on your house and you get injured, your insurance company will invoke this coverage and cater for all medical expenses until you fully recover.

Deductible

Also, homeowner insurance should have deductibles. This represents the portion of loss a homeowner should cover. Your insurer will cover the rest.

Additional (But Optional) Features

A good insurance policy should give you the following additional (but optional) features:

• Cost content replacement, water, sewer backup, and identity fraud

• Cost dwelling replacement and extended dwelling cover

• Scheduled items—including jewelry, currency, as well as fine arts

Key Takeaway

Read your policy well. Ensure that it covers the things you want. You can also ask for help from an expert. The bottom line is to purchase a policy that suits your explicit needs.

The Bottom-Line

Protect your home from disasters the right way. Don’t just choose any insurance cover you come across. Do your homework and chose a cover that suits your home’s explicit needs. Purchase an insurance cover with the above features.