As a homeowner, your residence provides security, stability and safety. However, purchasing a home may also be one of the most significant financial investments you ever make. Incidents affecting your property may occur regardless of how diligent you are in maintaining your home or how low risk your lifestyle is. With that in mind, you must protect your home financially by having adequate homeowners insurance.
What Does Homeowners Insurance Cover?
Homeowners insurance can come with various features and coverages. These policies, also known as home insurance, may provide financial assistance in response to many common incidents or perils, such as fires, hail, theft and falling objects (e.g., tree limbs). Based on the type of policy you select, the following may be covered:
- Dwelling—This coverage can financially protect the physical elements of your home, such as its roof, walls, foundations and plumbing systems.
- Additional structures—If your home includes other buildings, such as detached garages or sheds, your policy may cover them.
- Contents—This coverage can help pay for losses involving your possessions, such as furniture, clothing and electronics.
- Temporary living expenses—If a covered incident makes your home uninhabitable, this component of your policy can help pay for resulting costs, such as hotel stays and restaurant meals.
What Is Liability Coverage in Homeowners Insurance?
Your homeowners insurance may also provide financial protection for the losses of others. If you or another person listed on your policy (e.g., spouses and children) are at fault for the losses of a third party, this coverage can provide financial assistance. This coverage may render aid for bodily injuries, such as if someone slips on an icy sidewalk, or property damage, including a fire you started that affects a neighbor’s home.
Can I Customize My Homeowners Insurance to Meet My Needs?
There are many types of homeowners insurance, and you can often customize your policy to suit your specific needs, circumstances and budget. For example, if you hope to save money on your premiums, you may elect to increase your deductible or forego coverage for temporary living expenses.
You may also be able to augment a standard homeowners insurance policy to include coverage for perils not generally included. In most cases, you must make such arrangements if you want your property to be protected from the following:
We’re Here to Help
With over 25 years of experience serving homeowners, families and businesses in the Houston area, Hernandez Insurance Services is well-equipped to help with your homeowners insurance needs. Contact us today to get started.