A Quick Guide to Home Insurance

​Homeowners insurance is a policy that covers both damages to property and the legal responsibility for injuries and property damages families cause to other people. This policy also includes impairments caused by pets. 

A typical homeowners insurance policy includes three types of coverage: 

1. Personal Belongings Coverage 
   Personal items like furniture, sports equipment, and clothes have coverage in theft or damages due to a hurricane, fire, and other calamities and disasters. Most insurance companies provide a range of about 50 to 70 percent of the amount of insurance on the structure of your home. 
   
   This part of the coverage also includes off-premises, which means belongings and other items are covered anywhere you are unless you decide you do not need off-premises coverage. Other expensive belongings such as furs, silverware, jewelry are also covered; however, there is usually a dollar limit in case of theft. 
   
   To have coverage of these expensive belongings to their full value, you can get a special personal property endorsement and insure the items for their appraised value. 
   
   
2. Structure of the Home Coverage 
   This type of coverage pays and shoulders the repairs or rebuilding of your home if it gets damaged or even destroyed by a hurricane, hail, lightning, fire, and other calamities and disasters listed on your policy. 
   
   However, this policy will not shoulder damages caused by earthquakes, floods, and typical wear and tear. Most policies also cover external structures like the garage, gazebo, or tool shed. 
   
   
3. Liability Protection 
   Liability protection covers lawsuits and complaints about injuries or property damages that you or a family member has caused to other people. This policy also covers damages caused by pets. The liability portion of your policy will pay for the cost of protecting you in court up to the limit of your policy. 
   
   The coverage is not just in your home, but it will also extend to anywhere you are in the world. The limit usually starts at around $100,000. An excess liability policy will provide more comprehensive and broader coverage, including claims for slander and libel. 

Conclusion
To ensure your coverage is enough and adequate, it is best to choose an insurer that will help you every step of the way. Choose a company that is just one call away if you have questions or need to file a claim. 

At Insurance Marketplace, Inc., we do our best to make sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (541) 779-0177 or Click Here to request a free quote.