Whether you rent or own your home, property insurance offers vital financial protection in the face of the unexpected. However, with different options available, it can be hard to know what is covered and what is not. The guide below takes a closer look at a standard policy.

What Does Property Insurance Include?

Personal Property

Protection for belongings is found across virtually every type of home coverage, including renters, homeowners, and condo insurance. If there's a theft or incident, like a fire, then your provider helps pay to replace the damaged or lost items up to the designated limit.

Liability

Both renters and owners face liability risks. If a person is injured on the property or someone living in the household causes damage to another individual's property, then a claim may be filed for damages, which liability coverage would help pay.

Structure

For property owners, dwelling coverage is a major component of their policy. This aspect of the plan assists with repairs or the entire replacement of the main structure as well as attached garages and decks. Many policies also offer protection for detached structures, like sheds, but it is worth double-checking.

What Isn't Covered?

Property insurance is designed to protect against the majority of situations, but there are some circumstances that are often left out. Flooding is one of the most common exemptions. While policies typically protect against sewer and plumbing water damage, you need a separate insurance plan for flooding. Other examples include earthquakes or termite damage. If you are in a region that is often subject to natural disasters, review your policy and add to it as necessary.

Find the right property insurance policy for your needs by turning to Barry Insurance in Texarkana, TX. Since 1962, the insurance agency has worked closely with residents and businesses across Bowie County and the surrounding areas. The agents are committed to providing honest, dependable, and personalized assistance. Learn more about their coverage options online. Request your insurance quote today by calling (903) 831-3493.