Investing in homeowners insurance in PA should be a top priority for every responsible homeowner. There is no predicting when a disaster or an accident will strike that will require rebuilding the home and other unplanned expenses. Although it would be nice to purchase an insurance plan and be done with it, in reality, it is never that easy.
Depending on the type of homeowners insurance purchased, there are some inclusions and limitations worth noting. Here are some of the most common homeowners insurance premiums and the extent of their coverage:
Structure Coverage
As the name suggests, structure insurance provides coverage for the house itself. The insurance company will pay to rebuild or repair homes that are damaged by fire, hurricane, and other disasters that are specifically listed on the policy.
This form of insurance can also cover for the cost to repair or rebuild detached structures such as the garage, gazebo, and sheds that have also been damaged by the same disaster that struck the home. However, detached structures are only limited to 10% coverage at most.
Always double-check the policy before signing as basic homeowners insurance will not cover damages for certain disasters such as floods, earthquakes, and everyday wear and tear. As a whole, homeowners insurance in PA should purchase insurance plans that are enough to rebuild their entire home and a few extra structures.
Personal Belongings Coverage
Aside from structural insurance, homeowners insurance can also include personal belongings as part of the coverage. This insurance will include furniture, clothes, electronics, and many others provided a home inventory has been conducted. Personal belongings insurance coverage will pay anywhere between 50-70% of the estimated value.
However, for expensive items such as artwork, fur, jewelry, and designer clothing, they may be covered by the insurance company, but a limit for the maximum amount is set in case of theft.
It is best to seek a special personal property endorsement as it is needed by the insurance provider to ensure the correct appraisal value is given to every item included in the claim.
Liability Protection
Homeowners insurance doesn’t just include the structure of the home and what is found inside, it can also help protect the people who live under its roof. A liability protection coverage protects the homeowner and their family from any lawsuit that involves bodily injuries or property damage towards others.
This means that if you or your child damages an expensive rug or part of your neighborhood’s garden, the insurance provider will pay for the cost to repair or replace the property.
Included in the liability protection is the no-fault medical bills. If a person was injured inside your home, they can submit all their medical bills to your insurance provider and the company will pay for the bills.
Basic Insurance Coverage Is Not Enough
Simply paying for the basic homeowners insurance premiums is not enough to ensure you have a safety net in case of a disaster. Speak to your insurance provider regarding possible additions to your current plan so that your home, yourself, and your family are covered for whatever accident or disaster may come in the near future.
Protect the biggest investment of your life with the best homeowners insurance in PA. At Miller Carlisle Insurance Services, we give you the best deals that you can get.