What Are Covered Under Homeowners Insurance?
Homeowners insurance provides financial protection for your home and belongings in case of damage, loss, or liability. First Choice Agency provides homeowners insurance in Queens, NY, Farmingdale, Amityville, Massapequa, Babylon, Brooklyn and surrounding areas.
This is a breakdown of what’s typically covered:
- Dwelling Coverage: This part of the policy covers the cost of repairing or rebuilding your home if it’s damaged or destroyed by covered perils like fire, windstorm, hail, or vandalism. It includes the structure of your home, such as walls, roof, and floors.
- Personal Property Coverage: This covers the cost of replacing or repairing personal belongings inside your home, such as furniture, electronics, clothing, and appliances, if they are damaged or stolen. Coverage may extend to items stored outside the home, like in a shed or garage.
- Liability Protection: This protects you if someone is injured on your property and you are found legally responsible. It covers legal fees, medical expenses for the injured party, and any damages awarded in a lawsuit. It also extends to incidents that occur off your property, like if your dog bites someone.
- Additional Living Expenses (ALE): If your home becomes uninhabitable due to a covered loss, this coverage helps pay for temporary housing, meals, and other living expenses while your home is being repaired or rebuilt.
- Other Structures Coverage: This covers structures on your property that are not attached to your home, like a detached garage, fence, or shed. It typically offers a percentage of your dwelling coverage limit.
- Medical Payments Coverage: This covers minor medical expenses for guests who are injured on your property, regardless of fault. It’s typically a smaller amount than liability coverage.
- Loss of Use: If you can’t live in your home due to a covered peril, this helps cover expenses related to temporary accommodation and other additional costs incurred.
Note that homeowners insurance policies vary, and some perils, like floods or earthquakes, may not be covered unless you purchase additional coverage. Always review your policy details and discuss any concerns with your insurance agent to ensure adequate protection. Want to discuss this further? We’re available by phone or email.