Home is the most favorite place for all, where families are raised leaving beautiful memories. A home is also a huge investment, so homeowners need to have insurance to protect the investment as many mortgage companies have made it mandatory to have an insurance to get loan. A number of homeowners insurance protects you and your loved ones from loss through the following ways:
Dwelling coverage ensures that your will be repaired or rebuilt if it is damaged or totally destroyed due to a disaster that your policy covers, such as storm, fire, lightning, wind, or hail damage.
Loss of Use Coverage
Loss of Use coverage is for the situation when you have to rent staying place like hotel or an apartment as your homeowners house is being fixed or rebuilt. Your homeowner’s insurance loss of use coverage pays for you. Other living expenses such as food are also reimbursed.
Additional Structures Coverage
This type of home insurance covers all building structures you have on your property besides your home and pays for their repair or reconstruction if they are damaged by a covered loss event
Personal Property Coverage
Personal properties under home insurance covers computer, television and a number of home appliances. If they are stolen, destroyed, or damaged, this part of your insurance pays for their replacement or repair. There are a variety of personal property category, so you need to check out the details at the time receiving homeowner’s insurance quotes.
Full Insurance Coverage
An agreement is added protection for property such as a guest house, or an especially valuable item you own such as a wedding ring. An added advantage of this agreement is replacement cost coverage, which pays the full cost of replacing property, not just what the property you own is worth.