Coverage Types in Home Insurance

Few people kick back with a hot cup of coffee to read their homeowners’ policy, so you might not know why your bank requires you to carry it while you pay off your mortgage on your Aurora, CO home. Your home provides you with four handy types of coverage – liability, named perils, property damage, and contents coverage. All-Star Insurance Brokers Inc. wants you to understand this important policy and the insurance components to which you can add to it.

The liability component means if someone gets hurt on your property, their medical bills are covered. If they take you to court, you won’t have to pay out of pocket to pay a settlement.

The named perils component pays you for repairs to your home or its replacement if a named peril strikes. A named-peril means a natural hazard such as a tornado, hail, or lightning strike.

Property damage coverage reimburses you for repairs to your property from other types of damage. Let’s say your teen accidentally drives into the garage door. The door gets obliterated. Your garage door receives the same awesome coverage as your roof. You get a new garage door, and your home insurance pays for it.

The contents coverage component protects your personal belongings inside your home. If snowpack and ice weight cause your roof to give way, the items inside receive protection. Your snow-covered TV, bedding, stereo, etc., get replaced, paid for by this coverage of your homeowners’ insurance policy.

You can add to the coverage in the standard home policy. You can increase your liability coverage, add jewelry coverage, cover a home business, etc. Call All-Star Insurance Brokers Inc., serving Aurora, CO, to obtain or expand your coverage today.