Understanding What Homeowners Insurance Covers

by | Feb 25, 2016 | Home Insurance

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Your home will most likely be one of the largest investments you make, so it is important to take the correct steps to ensure the protection and care of the place where you and your family live. If you are looking into Homeowners Insurance in Parker, CO, you may be wondering what exactly this kind of insurance can cover for your home.

The Physical Structure of Your Home
When investing in a home, there is simply no telling when a crazy accident might happen or a terrible storm might hit, and what would you do in that scenario if you didn’t have insurance? Homeowner’s insurance covers damage caused by flooding, fire, excess smoke, storms, and any other kind of physical damages to the structure of your home. The offers on this specific type of insurance vary depending on whether your dwelling is a house, apartment, condo, or other, and the price is determined based on how much it would cost to rebuild or repair the specific structure of your home.

Belongings and Personal Property
You may have the structure and outside of your home covered, but what about the belongings and valuables within? Homeowners insurance can also cover the cost of the personal property within your home, and the coverage is determined based upon either the actual dollar value of the items or the estimated cost of replacement. In the event of a fire or flooding, this type of coverage could help you to restore your home to its previous state by helping to cover the cost of replacement and repair.

Liability Insurance
This coverage could prove extremely significant in the event that somebody is injured or hurt on your property, and you are faced with legal fees or damages. Liability insurance is intended to protect you from the weight of lawsuits, hospital bills, or repair fees that others may try to pass on to you rather than paying themselves. There is a wide variety of scenarios that this coverage will protect you from, so consider adding it to your homeowner’s insurance package!

If you are looking for homeowners insurance in Parker, CO and would like to learn more about these different types of homeowners insurance coverage, you can speak with an agent today to get a free estimate on your home and belongings. There are also umbrella coverage plans that pull all of these areas together to provide better overall coverage, so consider that for the protection and care of your home.

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