Homeowners insurance includes a variety of coverage types that protect you and your assets against a number of threats. Because of this, it can be confusing to understand what a basic policy offers. To help you understand yours, Tammy Ross Insurance, a trusted agency in Monroe, NC, explains what is and isn’t covered under a basic homeowners insurance policy.

What Does a Typical Homeowners Insurance Policy Cover?

Home’s Structure

Homeowners insurance covers the structure of your home against damage by fire, storm, vandalism, and other named hazards. However, it usually does not cover catastrophes such as earthquakes, floods, or mudslides. While you can buy coverage for these, they are generally included in a separate policy.

Your Belongings

The contents of your home are also covered, including furniture, electronics, appliances, clothing, and other valuables. For high-value items, like artwork and jewelry, you should have them appraised and the value called out within the policy. You might also have to pay an additional amount to insure these luxury items.

Other Structures

While homeowners insurance covers attached structures like a deck or garage, it also typically includes detached structures, as well. For instance, a fence or storage shed on your property is usually covered, although the payout amount for these structures is often limited to only 10% of the value of the home.

Liability

Liability insurance is one of the most important features of a homeowners policy. It pays out if you or a family member should accidentally cause an injury to someone. It covers pets, as well, so if your dog were to bite a neighbor, your liability insurance would pay for treatment and any legal fees arising out of the incident. However, some policies exclude coverage for certain aggressive dog breeds.

Since homeowners insurance covers much more than just the structure of the house, it should be an integral part of your financial planning. For invaluable advice, contact Tammy Ross Insurance in Monroe. They've been helping homeowners throughout Union County protect their assets for two decades, so they have the experience and know-how to offer expert guidance. They also specialize in business, life, and car insurance. Visit their website to learn more about their policies, or call (704) 233-4981 to speak with a friendly, helpful agent.