What Does Homeowner's insurance Cover?

Purchasing homeowner's insurance is a necessary move to ensure that your home and your possessions are adequately protected. With so many different policies offered by an array of companies, it can sometimes be difficult to understand what exactly is covered by homeowner's insurance.

While policies may vary from company to company, there are a few standard features that you will be able to find in nearly all homeowner's insurance policies.

Protection of Your Home's Structure

Gutters and downspouts help divert water away from your roof and away from the foundation of your home. Most homeowner's insurance policies will cover the physical structure of your home in case it needs to be repaired or rebuilt. This will cover you if your home happens to be damaged by fire, hail, lightning, or any other natural disasters that are listed in your policy.

In many policies, this coverage will also extend to structures that are detached from your home, like a detached garage or tool shed. Be sure to read your policy carefully to determine exactly which structures are protected.

Protection of Your Personal Belongings

Most policies will cover the loss of your clothes, furniture, etc. if they are either stolen or damaged in a disaster. Typically, this coverage will be for 50%-70% of the total coverage you have on your home.

Liability Protection

Liability protection will cover you against lawsuits if someone suffers personal injury or property damages because of someone in your family (or your pets). This policy will cover your court costs and court awards (up to the limit of the policy you have).

Coverage for Living Expenses

In the event that your home is damaged or destroyed and you have to take up temporary residence in a hotel or with a family member, this portion of your policy will help you pay for expenses you incur while living away from your home (such as food, hotel bills, etc.).

If you or someone you know would like more information on homeowner's insurance, or if you are interested in purchasing or selling real estate in the Austin area, contact the Austin real estate agents of the Carvajal Group by calling 512-419-7770 today.