Protecting Your Home—Knowing What Homeowners Insurance Covers
If you are like most people, your home will be the single largest investment you will ever make. When you commit that much money to something, you want to make certain you protect with a good insurance policy. But are all homeowners insurance policies alike? Hardly.
While there are some things you can reasonably expect to be covered, you should pay close attention to policy provisions to ensure you are getting what you want. The provision you want to examine most carefully involves the types of “perils” covered. There are generally two types of coverage: coverage for “named perils” and coverage for “open perils.” With an open perils policy, you are entitled to coverage for any loss not specifically excluded. With a named perils policy, the insurer will typically only pay for those types of losses or accidents specifically enumerated in the policy.
As a general rule, certain types of perils are excluded, such as damage caused by earthquake or flood. To obtain coverage for losses caused by those events, you must purchase a separate policy of flood insurance or earthquake insurance.
What You Can Expect with Most Homeowners Policies
With a standard homeowners insurance policy, you can generally expect coverage for:
- Your dwelling and other structures—Homeowners policies customarily reimburse you for the costs of repairs or construction after a covered loss. This includes most aspects of repair or rebuilding, from plumbing and electrical to structural damage, including studs, drywall, floors, etc. It also covers heating and cooling.
- Loss of use of your home—If you incur expenses because you cannot live in your home, your homeowners policy will usually reimburse those costs.
- Personal property loss—Any items in your home that are damaged or destroyed are usually covered.
- Injuries suffered by another person—A homeowners policy typically covers you for slips and falls and other injuries on your property.
Contact the Law Offices of J. Lewis & Associates
To discuss your legal needs with an experienced Riverside premises liability injury lawyer, contact our office online or call us toll-free at 9516820488. There is no charge for your initial consultation. Se Habla Espanol.