Whether you’re shopping for your first house or are a current resident, protecting your property from the unexpected is worth the investment. Homeowners insurance is designed to cover damage and other liabilities so you won’t have to pay exorbitant out-of-pocket costs. Here is a helpful guide on what a standard policy will cover.

What Does Homeowners Insurance Cover

1. Property 

If your house is damaged by natural disasters such as storms, hail, or fallen trees, homeowners insurance will pay for the repair or replacement costs. Most policies also include damage caused by burglaries, theft, fire, and vehicle collision. Within each policy is the complete list of all perils covered and not covered. 

2. Liability

Unfortunately, accidents can occur in your home and surrounding property. If a guest is injured while at your dwelling, homeowners insurance picks up the tab for their medical expenses. Depending on the policy, coverage may also include wage loss if the injured individual can’t work, as well as any legal claims filed against you. 

3. Personal Property

Another benefit of having homeowners insurance is the protection it provides for your personal possessions. From furniture and laptops to electronic equipment and appliances, most plans will pay for the repair or replacement costs if your belongings are damaged, lost, or stolen. Policyholders can choose the replacement option, which generally pays the amount of the item’s worth when the claim is filed. The actual cash value is determined by the most current worth of the item. 

4. Surrounding Property

The coverage also extends to your property’s surroundings, such as garages, driveways, and in-ground swimming pools. Fences, decks, and patios are also typically covered by homeowners insurance. If you’re planning to renovate or expand, check with your provider first to find out if the addition will be covered. 

Omega Insurance Group in Lincoln, NE, is committed to helping homeowners secure affordable, reliable, and customized coverage. What makes the locally owned firm unique is its ability to shop on your behalf from some of the industry’s leading carriers. You can always count on clear and concise language about what your homeowners insurance policy will cover. For a free, no-obligation quote, call (402) 465-1167 or request one online.