Home Insurance / Homeowner’s Insurance

Home Insurance / Homeowner’s Insurance

Home Insurance or Homeowner’s Insurance

Home Insurance or Homeowner’s Insurance is an insurance policy that protects home or property owners against any claim, liability or legal responsibilities for any injuries or property damage caused by policyholders, their family members or even their pets. When you plan to buy home insurance you should be satisfied, happy and relaxed and must feel that the package or policy that you have chosen covers everything that you love most.

Standard homeowners policies cover damages caused by most natural hazards except flooding, earthquakes or poor maintenance. Flood insurance is provided by the National Flood Insurance Program offered by federal government while earthquake insurance is available as endorsement or as a separate policy. In all cases maintenance related problems are considered homeowners responsibility and has nothing to do with insurance coverage.

Package and Policies for Home Insurance, Lifestyle Insurance and Home Insurance for Contents offer coverage for buildings, household contents and personal belongings as part of an insurance packages to give you a feeling of security and peace of mind. Most home insurance companies claim to pay 98% to 99% claims but before any signup, you should always check the star ratings and see what people have to say about your chosen company.

Calculate Dwelling Home Insurance Coverage Carefully

Do the maths properly to figure out how much dwelling coverage you need and how much you have to pay for it. Some calculators only help to estimate the possible dwelling coverage while others also help to  estimate the premiums and amounts needed to pay for the chosen coverage or policy. There are many free home and homeowners insurance calculators available online e.g. Homeowners Insurance Calculator, Another Homeowners Insurance Calculator, Calculate Premium

Some Key Benefits of Home Insurance Policy

  • Accidental damage to expensive electronic equipment such as TV and Audio sets, Computers, Kitchen and Home Appliances etc.
  • Coverage of expenses in the event of law suits or jury services you or your spouse attends.
  • Wedding expenses coverage, wedding gifts or presents
  • Coverage of financial loss as a result of lost or stolen credit or debit cards
  • Cover of alternative accommodation arrangement for you and members of your family incase the current home can not be lived in due to circumstances mentioned in the policy.
  • Insurance to replace damaged doors and locks in the case of lost or stolen door keys or robbery.
  • Payment to repair or replace central heating or cooling system due to the event as described in the policy.
  • Death compensation for homeowner’s or spouse’s death in the home as a result of fire, burglars, robbers or intruders.
  • Accidental breakage of fixed glasses of windows, doors, washbasins, baths, sinks, shower trays, lavatory pans and similar sanitary fixtures.
  • Compensation for destruction or damage to food in freezers due to change in temperature.
  • Cover to pay fire brigade charges in case of fire.
  • Coverage of accidental loss or damage to house contents during shifting to another home.
  • Cover to repair and fix water or oil leakages in the house.
Also See:   Auto Insurance - Legal requirements and benefits

These are just a few key benefits of home insurance and homeowners insurance, you should always negotiate with the home insurance company to get the maximum coverage under the headings not covered in this article.

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