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What Does My Homeowners Insurance Policy Actually Cover?

Protection against life’s little surprises – that's what homeowners insurance is all about. Your home is likely a large financial asset and the last thing you want is to face potential losses due to damages or disaster.


Homeowners insurance offers peace of mind knowing your assets are securely protected, just in case something goes wrong down the line.


What Homeowners Insurance DOES Cover


Dwelling Coverage

As a homeowner, it's important to have coverage for your actual home. Did you know that dwelling insurance can help protect the structure of your house - from walls and floors to windows and roofs?


Not just that, but any built-in appliances such as furnaces are also generally included in this type of homeowners insurance policy. Plus, if you've got an attached garage or deck, they count too.


Other Structures Coverage

Have you ever wondered what would happen if your separate structures, such as a fence or shed, were damaged? With 'other structures coverage' through homeowners insurance, any unattached structure on your property can be protected against unexpected events.


Investing in this type of homeowners insurance policy is an important aspect to consider when it comes to ensuring the safety of your home and its contents.


Personal Property Coverage

Keeping your personal belongings safe should be a top priority. A homeowners policy is an easy way to do just that - it can protect things like clothes, furniture, electronics and appliances you own while they're in the house or out.


So don't fret if someone takes off with your bike from outside a store – under most policies, you'll get some coverage (minus any deductible).


Does your homeowners policy provide adequate coverage for all of the items you've collected over time? It's important to understand that while structural components and dwellings may be safe from certain calamities, personal property is often only covered if a listed disaster strikes.


Knowing what events are included in your home insurance plan can help keep special possessions secure. These events, typically called “perils” in your policy, tend to include:

  • Fire or lightning.

  • Smoke.

  • Windstorms and hail.

  • Explosions.

  • Theft.

  • Vandalism.

  • Weight of ice, snow and sleet.

  • Sudden damage from a power surge.

  • Volcanic eruptions.

  • Falling objects.

  • Water overflow or discharge from household systems like plumbing, air conditioning and appliances.

  • Freezing of those same household systems.

  • Sudden tearing, cracking or bulging of a hot water system, steam system, air conditioning or fire protective system.

  • Riots.

  • Damage from aircraft or vehicles.

Loss Of Use Homeowners Insurance Coverage

Your homeowners insurance policy offers more than just its traditional coverage - it can also cover the costs of additional living expenses if your home becomes uninhabitable due to a covered disaster.


With loss of use coverage, you may be eligible for reimbursement on things like hotel stays and restaurant meals while you're temporarily displaced from your home.


Liability Coverage

From costly lawsuits to pet-related mishaps, personal liability coverage can help protect you and your family. If your pet takes a bite out of someone while in the park, this financial safety net may soften the blow — ensuring that both yourself and your furry friend are covered.


Medical Payments Coverage

When you cause physical injury to someone outside of your household, medical payments coverage could be a lifesaver - literally. No need for lawsuit hassles or even being found at-fault as this form of homeowners insurance provides protection against such situations no matter what the outcome may be.


What Homeowners Insurance DOESN'T Cover


Homeowners insurance is a great way to protect your home from potential disasters, but unfortunately it won't cover everything. Intentional damage or other causes such as floods and earthquakes may not be included in the policy coverage so bear that in mind when deciding on how best to safeguard your property.

Things that may not be included in your homeowners insurance policy are:

  • Flooding from external sources like heavy rainfall or storm surges.

  • Drain and sewer backups.

  • Earthquakes, landslides and sinkholes.

  • Infestations by birds, vermin, fungus or mold.

  • Wear and tear or neglect.

  • Nuclear hazard.

  • Government action, including war.

  • Power failure.

Homeowners Insurance in Florida

If you live in a hurricane-prone state or area (like we do in Florida), additional coverage is available to protect your home from flood, earthquake and windstorm damage.


Don't forget: these risks may not be covered by traditional homeowners insurance policies.


If you have any concerns regarding your current homeowners insurance policy give us a call at Richard Dean Insurance. Our agents can help you comb through your policy and determine if you have adequate coverage for your home and your belongings.


With Richard Dean Insurance, we'll help keep your home and personal possessions safe — so that you can focus on enjoying life. Call us today.

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