03-04-2008, 12:43 AM
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| Administrator  Join Date: Aug 2007 Location: Central CT Age: 31
Posts: 499
Rep Power: 10  |  What does Home Owners Insurance Cover? Homeowners insurance provides financial protection against disasters, accidents and liability resulting from either. A standard policy insures the home structure itself and the things you keep in it. Some items are 'add-on' type. A common example is jewelry. Most policies will include $xxx of coverage. If you have more than that in valuables, you can upgrade to a larger coverage for a little extra premium. Homeowners insurance covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets, or someone falling on your walkway. Damage caused by natural disasters is usually covered under the 'act of god' clause. There are exceptions, however. In general, flood insurance and earthquake insurance are the two most common. Both of these policies are considered riders to the main policy and must be purchased separately. Maintenance-related problems are the homeowners' responsibility and are generally not included in the insurance (such as a leaky roof causing water damage). Like all insurance policies, there is usually a deductible to collect. The higher your deductible, the lower your annual rate. There are 3 types of coverage options generally available. Each will change your rate.
__________________ 1997 2050sqft Split Level  Last edited by briansol; 03-04-2008 at 12:49 AM. |
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04-29-2008, 10:35 AM
| #2 |
| Junior Member Join Date: Apr 2008
Posts: 24
Rep Power: 0 | I did not know that is what the insurance covered. Good to know thanks. |
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