When shopping for homeowners insurance, you’ll come across many different options available from the marketplace. This is because you have the ability to customize your coverage beyond a standard policy to fit your specific needs. However, before you start adding more to your plan, it’s important that you understand exactly what’s covered already under a basic policy.

At Mid-Alliance Insurance Associates, Lincoln, NE, residents are offered quality products and superior service. As part of this commitment to customer satisfaction, the insurance agency takes the time to evaluate the type of protection most suitable for each client’s home. 

Below, they explain the four types of coverage outlined by standard homeowners insurance:

Repair or Rebuild of Your Home

Homeowners insurance covers the actual structure itself if it is damaged or destroyed by a peril that is named in the policy. Special Form Homeowners policies cover losses unless limited or excluded. A few of these exclusions include flood, earthquake and surface water.  The key to purchasing coverage is making sure your limits are high enough to rebuild your home should it be necessary.

Protection Against Liability Claims

Homeowners insurance occurrences can happen anywhere and at any time. That’s why homeowners insurance is also designed to cover you against liability claims if someone is injured on your premises and also covers your negligent acts away from the premises.  A lawsuit can get quite expensive, but your policy will help protect you from legal actiion & subsequent court ordered awards.This will take care of medical expenses or repairs for property damage.

Replacement of Personal Possessions

Homeowner insurance protects against losses to your personal property. The limit on your policy for personal property is an automatic percentage of your dwelling coverage, but may be adjusted by endorsement if additional coverage is needed. It is important to have replacement cost coverage on your personal property. Many homeowner policies have certian limitations on certain items as jewelry, guns and precious metals. You want to make sure the limits are sufficient. High valued jewelry coverage may be increased by adding a personal article floater.

Additional Living Expenses

 If your home is no longer habitable because it’s been seriously damaged from a peril covered in your policy, your homeowners insurance will pay for the additional living expenses you acquire while your home is being rebuilt. This may include bills for wherever you stay, dine-out meals, and other costs associated with having to live away from home.

Mid Alliance Insurance experienced, licensed, professionals will review the actual needs of protecting the assets of your home and personal property. Please contact Mid-Alliance Insurance Associates at (402) 421-7800 , or visit them online to learn more.