Homeowners insurance is not a single type of coverage; most policies contain a number of coverage types that offer protection against various risks. To help you understand what you're buying, Tower Community Insurance, the most trusted insurance agency in Scottsboro, AL, discusses three essential types of policies to include with homeowners insurance.
3 Important Homeowners Insurance Policies
1. Dwelling Coverage
This protects the structure of the home against damage or destruction by fire, storm, falling objects, vandalism, and other hazards. Policies normally exclude damage caused by earthquakes, floods, mudslides, civil insurrection, and acts of war, so you must pay an additional amount to protect the home against those events. Some items that are covered include attached garages and decks.
2. Personal Property Coverage
This protects the contents of the home against the covered events above, as well as theft. Covered items include furniture, clothing, electronics, and appliances. Some high value items, including artwork, jewelry, and collectibles, may need to be appraised and covered by a separate rider if you claim their full value after a loss. Personal property insurance also covers damage or loss of belongings while traveling. For instance, if your camera equipment is stolen from the hotel room while you're on vacation, it may be covered under this policy.
3. Personal Liability Coverage
This policy pays for medical treatment and property damage if you, a family member, or a pet should injure someone else or damage their property. It also pays the legal expenses arising out of the incident, including court costs, lawyer fees, and any judgment or settlement amounts. This policy only covers accidents; most—if not all—insurers exclude intentional injuries and damages.
A comprehensive homeowners insurance policy should contain all the above coverage types for solid protection against misfortune. To discuss your coverage options with an experienced professional, contact Tower Community Insurance. This insurance agency has been serving Tennessee and Alabama since 1970. Visit their website to view office hours and location details. Call (256) 259-1116 to request a home, condo, or renters insurance quote.