A house is not only a property; it is an investment as well as a home where you live with your family. So it will always be a good idea to protect it. There are number of insurance companies in the market providing basic homeowners insurance and your responsibility is to grab the best homeowner’s insurance policy.
What does homeowner insurance policy cover?
A homeowner insurance policy covers:
- Personal belongings: Basic homeowner insurance will give you coverage for your personal belongings like furniture, clothes, any stuff destroyed by fire, sports and other personal stuff that is stolen. Most of the company will provide you up to 70 percent coverage of the total value. And the best thing is that it will provide you the coverage for any sort of damages and that too anywhere in the world. But it will also depend on your insurer.
You will also get coverage for your precious jewelry and furs. If it gets stolen, the insurance companies set a limitation of dollar to your fur and jewelry. If you are looking for the full value for those items, you will need to buy a special personal property endorsement or an added floater policy. That coverage would be including accidental evaporation and comes without any deductible.
For plants, trees and shrubs, you will normally get 5 percent of the total value of insurance and also will be protected from vandalism, explosion or a falling aircraft.
- Your home structure: If your home is destroyed by fire, hail, hurricane, lightning and you will have to rebuild or repair it; this type insurance policy will pay for it. But remember earthquake, flood or routine disasters will not be covered under this policy so you should buy sufficient coverage that will pay for repairing your home when required.
- Liability:If your children or any of your family members or even your pets causes any damage to other people or your neighbor, this policy will provide you the coverage. The coverage is obtainable not just in your residence but also wherever in the world.
Get the best rate:
So as to get the best rate on basic homeowners insurance you have to find the best insurance company to compare rates. You will find many insurance comparisons websites online and that will provide you quotes from various A-rated companies so that you can evaluate them and opt for the best policy that fits your requirements. Also get the highest deductible that you can afford.
When you pay for homeowners insurance, make sure you are getting it from a company which is dependable and consistent.