When you buy a home, you’re likely to envision the future you’ll have there—not the risks your property faces. Although you might be excited about your new house, evaluate all the dangers your property faces and how a homeowners insurance policy can help protect against these risks. If you’re new to this type of coverage, here is a quick guide on the expenses that a standard homeowners insurance policy can assist with.

4 Expenses That Homeowners Insurance Can Cover  

1. Dwelling Damage

Homeowners insurance is designed to protect against structural damage caused by a wide range of issues. On standard policies, these issues will include smoke, fire, and storm damage, as well as some types of water damage that affect the main dwelling, as well as non-attached buildings.

If any of these incidents occur, your policy should provide compensation to pay for repairs up to a certain limit. If the property is no longer livable, insurance can cover the cost to rebuild the home.

2. Personal Property

When you create your policy, your insurance agent will review all the personal belongings on your property that you’ll want to cover along with their respective values. For instance, you might design your policy to cover artwork, furniture, electronics, jewelry, and appliances.

In general, your coverage will pay for the cost of replacing the lost or damaged item. The covered perils will match those that cover the main dwelling. You’ll also be protected against the loss of property caused by theft.

3. Emergency Expenses  

It can take time to repair or rebuild your home—especially after a serious disaster. During this period, you may incur expenses from your family’s daily needs. For example, you will need to pay for lodging, food, clothes, and other personal items. These types of needs should be covered under your policy’s Additional Living Expenses terms.

4. Injury Liability

From slipping on the walkway to electrical shock, there are many ways that visitors could harm themselves on your property. While these incidents may have been an accident, you will still be held liable as the property owner.

Fortunately, you won’t have to pay for the injured party’s medical fees, thanks to your home insurance’s liability coverage. This coverage should also help pay for any legal costs that result from the accident.

Since they’ve been providing service to Alexandria, KY, residents for over a century, the professionals at Northern Kentucky Home Insurance Company have the experience to give a personalized, appropriate homeowners policy at a budget-friendly price. To learn more about their products, visit this agency online. For a custom property insurance quote, call (859) 635-2500 to speak with a knowledgeable team member.