People have heard the horror stories from homeowners after they experienced a flood. These homeowners contacted their insurance companies to file a claim and received the bad news that they were not covered for floods. This unfortunate event happens, but people are surprised just as often by what their home insurance policies do cover.
Repairs that Bring the Property Up to Code
Those who have the basic home insurance policy that is known as “HO-3″ know that their insurance will pay to repair the home under some circumstances. What they may be surprised to learn is that their policies will also include coverage if they need to pay for repairs to bring the property up to code. If this is required after a covered loss, their insurance companies will provide the money for it.
Another very helpful part of the basic policy covers spoiled food. Home insurance covers damages that occur after a power outage. This would affect their kitchen appliances, and the homeowners would find that everything in the refrigerator and freezer has spoiled and is unable to be eaten. Homeowners would receive about 500 to replace the food they lost in this manner.
Third-Party Injuries that Occur Somewhere Other than on the Property
Although it is a home insurance policy, the coverage can extend much farther than the property line. Home insurance contains liability coverage that typically has limits between 100,000 and 300,000. This coverage can protect homeowners if they are found to liable for another person’s injuries that did not occur on the property.
College Students’ Belongings While Away at School
Parents will be happy to know that their home insurance policies can also cover their children’s belongings at their colleges. However, this type of coverage may be limited to students who living on-campus. Those who live off-campus will be able to insure their belongings with a relatively inexpensive renter’s insurance policy.
It may be a pleasant surprise for homeowners to learn how far their home insurance coverage will go. The above perils are included in the policy, and homeowners do not have to pay an extra cost for it. However, insurance policies are different from place to place, so homeowners will need to make sure that their particular policies contain these additions.
To find an affordable policy that has the extensive coverage described above, visit www.shophomeinsurance.net.