As a homeowner in Florida, one of the most effective ways to safeguard your most valuable real estate asset is to purchase and maintain a home insurance policy. These policies are designed to help owners protect their property. That’s why your insurance representative at Insurance Warehouses of America, serving Orlando, FL, encourages everyone to retain their home insurance policy, even after the mortgage institution no longer requires it. Here’s what’s covered in a standard home insurance policy, to help you better understand its value.
Main Property Coverage
The primary coverage in a home insurance policy is for the main property. This protects the physical structure of your home, including elements such as the walls and roof. Typically, this coverage includes protection against incidents like fire, burst pipes, hail, vandalism, and similar events. Your insurance can help cover the cost of repairs or rebuilding, depending on the nature of the loss.
Outbuilding Coverage
Other structures coverage extends protection to buildings on your property that are not attached to your main home, such as a detached garage, shed, or fence.
Personal Property Coverage
Personal property coverage helps cover the cost of repairing or replacing personal belongings, such as furniture, electronics, clothing, and appliances, if they are damaged or stolen. This protection applies even when items are lost outside the home in some situations.
Liability Coverage
Liability protection is included to cover legal expenses and damages if someone is injured on your property or if you accidentally damage someone else’s property.
Temporary Accommodation Coverage
Additional living expenses coverage helps pay for temporary housing, meals, and other living costs if your home becomes uninhabitable due to a covered loss.
Understanding what your policy includes and what it doesn’t can help you make informed decisions about coverage levels and any additional protection you may need. Contact your insurance representative at Insurance Warehouses of America, serving Orlando, FL, for more information.
