your home is your most valuable investmentso it only makes sense to protect that investment with insurance.while it sounds simple, homeowners insurance can create more questions than answers. let'sbreak down the coverages. the standard homeowners policy is dividedinto two sections: property coverages and liability coverages. let's start by takinga closer look at section i: property coverages. coverage a - dwelling provides protection for your home and the structures attached to your home. coverage b - other structures covers the structuresother than your home located on your property such as a detached garage or shed.coverage c - personal property covers the contents of your home, such as furniture,appliances, clothing and toys.
coverage d - loss of use provides coveragefor your additional living expenses when you have "lost" use of your home. for example,if you have to vacate your home due to damage from a covered loss - such as a fire or atornado - this coverage will pay for the additional cost of a hotel or other temporary livingexpenses you would not normally have until the damage to your home can be repaired.one important note about homeowers insurance...not all causes of loss are covered, such as floods.homeowner policies are designed to provide coverage for exposures that most homeownerswill incur. this helps to keep the cost of insurance affordable. not everyone lives inan area where flooding is a risk. if you do, you might be able to purchase a separate policyto provide coverage, and your independent
insurance agent can help with that.now let's take a look at section ii of the homeowners policy - liability coverage.section ii includes two coverages - personal liability and medical payments to others.personal liability provides coverage when you are legally liable for bodily injury orproperty damage to others. it also covers injury or damages to others caused by anyrelative living with you. let's say you're having a cookout and a oneof your guests is accidentally injured on your property, for example, they fall dueto a broken step at your door. your guest could decide to sue you for the injuriesreceived because of your neglect. that's when your homeowners policy's liability coveragewould come into play, to defend you against
lawsuits and help pay for expenses associatedwith those lawsuits. the second liability coverage provided inyour homeowners policy is medical payments, which covers medical bills incurred by invitedpeople who are injured on your property or as a result of your personal activities. rememberyour injured cookout guest? medical payments coverage would help cover the cast and stitchesthey received due to their injuries. we understand the details of insurance canbe confusing... this video is just a short overview of the primary coverages providedby a standard homeowners insurance policy. just like every home is different, so is everyinsurance policy - the most important thing to remember is your policy should protectyour needs. to ask questions and learn more
about what coverages you need, contact yourlocal independent insurance agent right away!
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