The Ultimate Home Owners Insurance Checklist: How To Make Sure You're Covered

Home Owners Insurance Checklist: How to Make Sure You’re Covered

Every home is unique and has different assets and risks to consider when safeguarding it. Finding home insurance that meets all your needs requires careful research and thoughtful consideration. The following is a comprehensive list of all the items you should consider to make sure you have the right coverage for your home.

Understanding Home Owners Insurance 

Insuring your home means protecting it from the possibility of economic loss. Homeowners insurance is a type of property insurance that pays for damages done to a home, its contents, and other structures on your property. It also protects you from legal liability if someone is injured on your property or if something on your property causes injury to someone else. Home owners insurance typically covers a home and its contents against: 

-Fire and smoke damage 

-Theft

-Vandalism

-Hail storms

-Falling objects

-Windstorms

-Weight of snow and ice

-Explosions 

-Water damage 

Homeowners insurance also typically has some form of medical payment coverage. This helps cover medical expenses if someone is injured in or around your home. This coverage is often limited to a certain amount, so consult your policy for specifics.

What Homeowners Insurance Does Not Cover 

Homeowners insurance will not cover any damages caused by flooding or earthquakes. If you are in an area prone to one of these disasters, you may need to purchase separate policies. Additionally, most policies also exclude damage from neglect or pest infestations that go untreated, but you can add additional coverage if needed.

Some things that are not typically covered by homeowners insurance are: 

-Loss due to wear and tear

-Loss due to home or business renovations

-Damage from intentional acts

Considering Your Policy Coverage 

When you are considering purchasing homeowners insurance, you need to consider the amount of coverage you will need. You may want to consider adding more coverage than the minimum requirement to ensure you can repair your home and replace any items that may be damaged.

The amount of coverage you choose should reflect both the value of your home and the value of your possessions. Damage done to your home can be quite expensive. For example, a plumbing issue can cost upwards of $5,000 to repair. To make sure you are protected, you should obtain coverage in an amount that will be able to cover the cost of any necessary repairs.

If you purchase a policy that does not cover all or enough of the costs of damages, you will have to pay out of pocket for any remaining costs. 

Items Covered by Home Owners Insurance 

Homeowners insurance will usually cover the following items: 

-The actual dwelling and any other structures built on the property 

-Furniture, appliances, artwork, clothing, books, and any other personal belongings

-Property damage liability 

When considering a policy, also make sure to check for additional coverages that could be beneficial if something unexpected were to happen. These include medical payments for injuries that occur on your property, loss of use, and coverage for valuables such as jewelry. 

Getting the Right Home Insurance 

Finding coverage that fits your needs requires doing some research and considering all of the options available. It’s important to read the fine print on policies and ask questions so you have a clear understanding of what is and is not covered. 

To make sure you get the best insurance solution for your needs, contact an experienced Insurance Agent. The knowledgeable staff at Edison Insurance Services will be able to provide you a quote and help you find the right homeowners insurance policy. 

The Ultimate Home Owners Insurance Checklist: How To Make Sure You're Covered

Purchasing homeowners insurance is an important step in protecting your home and its contents from potential damages. To make sure you are adequately covered, keep the following checklist in mind. 

-Understand the different types of coverage included in a homeowners insurance policy 

-Know which items are not covered by homeowners insurance 

-Consider the amount of coverage you need and don’t be afraid to add more coverage than the minimum 

-Make sure to purchase enough coverage for any potential repairs 

-Check for any additional coverages that could be beneficial if something unexpected were to happen 

-Read the fine print on policies and ask questions 

-Find an experienced insurance agent who can help you find the best coverage for your needs 

At Edison Insurance Services, our experienced staff can help you find the perfect homeowners insurance policy to suit your needs. Contact us today to get started.