House Insurance Coverage Summary: The Importance of Insuring Your Home and Property

If you’re looking for house insurance coverage, it’s important to have a good understanding of what it is. This type of insurance typically provides coverage for your private home, and in the event it is damaged or loss, compensates you. How much of the property that is covered, and how much compensation money you can receive, depends on the insurance company itself as well as the policy, deductible, and what is exactly covered in the policy.

Property damage can be covered in your policy if you want to protect the property itself, including the yard and any items of value other than the house, such as the storage building, gazebo, or garage. There is also home contents insurance that protects your valuables from loss or theft.

Your geographical location and local weather play a role in the type of policy you get. Most places require fire and flood insurance, even … Read More

Insuring Your Vacation Property

Even though you don’t live there year-round, it is a smart idea to have good coverage on your vacation property.

For the most part, insurance coverage for a holiday home works the same as the coverage on your primary residence. There are, however, a few key differences in the type of coverage you can select for a second home based on how often and for what purpose you use the property.

Some things you will want to consider when deciding which coverage is right for you include:

1. Do you only use the property during the summer months?

2. Do you make regular weekend visits?

3. Do you rent to other occupants throughout the year?

Keep in Mind:

1. In contrast to the comprehensive policy on most primary residences, insurance coverage for a holiday home typically includes Named Perils coverage instead of All Risk coverage. This limited coverage only insures … Read More