Understanding The Intricacies Of Insurance

3 Facts Regarding Getting Your Homeowner's Insurance Policy

If you are shopping around for home insurance, you likely have a lot of questions. There are so many different types of policies to consider, so if you are still unsure, check out these three facts to consider when you are getting your policy. They will help you make the right choice and not find unpleasant surprises after a disaster.

Maintenance Isn't Usually Covered

Now that you're a homeowner, you're in charge of all the maintenance to the home. Of course, it's your home, so you can choose how much maintenance you want to do. However, keep in mind that most insurance policies do not cover maintenance. For example, if a pipe bursts in your home and floods your basement, you may or may not be covered depending on the damage. If the pipe burst because the pipe was old and the plumbing poorly maintained, it's probably not covered. However, if you did everything right, but a defect in the pipe caused the damage, that may be covered because it was unforeseen.

A Peril Policy May Be Best

When you're choosing your policy, you'll need to choose between a peril or non-peril policy. A non-peril policy covers all the main disasters such as fire. If you have a non-peril policy, the policy will only list what is not covered. If you choose a peril policy, it only covers certain disasters that are common in that area. These policies only cover what is listed. If you live in an area that has a lot of earthquakes or hurricanes, you may need a peril policy because those disasters are not always covered under a non-peril policy.

Personal Injury Coverage Is Usually Included

It's not only your home and your belongings you must protect. You need to protect people visiting your home too. If they are injured while on your property, they may be able to file a claim or sue you. Your homeowner's insurance will likely have some limited coverage for personal injury. Make sure you speak with your insurance agent about your personal injury coverage in your policy, so you know you are protected.

Owning a home is rewarding, but it is also expensive. Luckily, homeowner's insurance is designed to help cover some of the costs of unforeseen disasters. If you would like more information regarding homeowner's insurance policies, contact an insurance carrier in your area today and get a quote.