Your home is a major investment, so you want to protect it from unforeseeable incidents. At its most basic, homeowners insurance provides financial protection for losses and damage to your property, including the structure of your home and what’s inside it. Many people are surprised to learn of additional situations that this type of coverage can help with.  

What Do Homeowners Insurance Policies Cover?

1. Temporary Accommodation

In the event that your home is made inhospitable due to damage from a fire, flooding, or another incident, you’ll need a place to stay during repairs. Thankfully, most homeowners insurance policies cover the cost of lodgings. You might file a claim for rent or hotel fees. 

The benefits don’t stop at housing costs. Different plans will come with unique limits, but most cover anything beyond normal expenses. For example, cooking at home is typically less expensive than dining out. If you don’t have access to a kitchen, you might spend more than usual at restaurants. The policy may cover the difference between your average monthly grocery bill and the restaurant tabs collected since the damage. 

2. Damage to Other Structures 

Your policy may also cover damage to structures that are on the property but aren't attached to the house. For example, if a neighbor accidentally backs into your home’s fence, the policy may cover the cost of repairing it. Coverage may extend to your lawn, detached garage, sheds, and gazebos. 

3. Liability 

If someone is injured on your property, they might sue you. Depending on the circumstances, the court might find you liable for medical costs, property damage, and other expenses. You might need to hire a lawyer. 

Your insurance policy will typically cover related costs, including attorney fees and any damages the plaintiff is awarded as a result of legal proceedings. This type of coverage is especially important if you have a pet or high-risk items on the property, such as a trampoline.

Find the homeowners insurance policy with ideal coverage at Northwoods Insurance Agency in Crandon, WI. They have over 30 years of experience helping individuals throughout Forest County and the surrounding areas find the most suitable policy for their needs. They partner with the nation’s leading providers. Call (715) 478-2215 to speak to an agent about your options today. Go online to learn more.