Homeowners insurance policies come in all types of packages and have different coverages. Since there are different packages and policy types, we are going to show you what the standard homeowners insurance covers. (This is not a full list of coverage; check your own policy to see what is covered.)
Standard homeowners insurance should cover:
• Fire, lightning, windstorm, hurricane, hail, weight of snow or ice, falling objects, and vehicle or aircraft damage to your home
• Burglary, theft, vandalism, malicious mischief, and glass breakage
•Explosion, riot commotion, and civil commotion
• Water from or freezing of plumbing systems, electrical damage to appliances, electrical wiring, and water heaters or heating system breaks
• Detached garages, tool sheds, and fences
• Damage to property of others, liability if you are sued, bodily injury, and medical payments• Personal Property; for instance furniture, electronics, appliances, and clothing
• Living expenses if you cannot live in your home due to one of the above conditionsStandard homeowners insurance does NOT cover damage due to floods, earthquakes, or war--just to name a few.
If your home is in a flood zone, as determined by the Federal Emergency Management Agency, then you are required by law to have flood insurance.
FEMA flood insurance should cover:
• The building of your home, the foundation, permanent carpeting over unfinished floors, permanent paneling/wallboards/bookcases/cabinets, and window blinds
• The electric system, the plumbing system, central air conditioning equipment, furnaces, water heaters, refrigerators and food freezers, cooking stoves, clothing washing machines and dryers, and built-in appliances
• Detached garages
• Debris removal
• Furniture, electronics, clothing, curtains, portable appliances, carpets that are not permanently attached, and the food in your food freezer
• Some valuable items up to $2,500 in value; for instance art work, jewelry, or furs
Posted by Anthony Licciardello on
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