What Does Home Insurance Cover?

Homeowners insurance is sometimes required when paying a mortgage on a home. Many HOAs require their buyers to carry the coverage. Even when the home is paid in full or otherwise not required by the HOA, carrying coverage is ideal if you wish to protect your most valuable investment. But, exactly what does homeowners insurance cover?

A standard home insurance policy protects the house against structural damage after weather wreaks havoc on the property. It also kicks in to cover the costs of personal belongings, outside structures, and maybe even some of the medical bills associated with guest injuries on your property. Many times homeowners insurance pays for unexpected costs many don’t realize are covered. This includes:

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·    Structures attached to the home, including the garage and shed.

·    Fences if they’re damaged by a covered element.

·    Personal property such as electronics, jewelry, and furniture after a break-in or other covered element destroys them.

·    You may be protected against damage if you cause injury to another person or their property. This varies from one insurance policy to another.

·    If you must move out of your home temporarily after it is damaged, the home insurance may pay for the costs of other dwelling while your home is being repaired.

Many agencies allow policyholders to add -on specific types of coverage to their policy if it is not already included. Flood insurance is one such type of add-on that Tampa residents should consider. Every homeowner needs home insurance tampa, regardless of the size of the property, the age, or whether it is required. This protection is second to none and prevents financial devastation for homeowners in the event that disaster strikes. While it is hopeful you’ll never file a claim for damage against your policy, it is comforting to know that the policy is there to have your back when the worst case scenario strikes.