What Coverage Do I Need in Home Insurance?

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When it comes to home insurance, the coverage you need will depend on factors like the home and neighborhood that you live in (i.e.: crime rates), whether or not you own pets and other valuables, and how much home insurance costs where your home is located. Here’s a list of options often available:

Dwelling Coverage

This pays for repairs to your home if it’s damaged by covered events such as fire, wind damage (including hurricanes) or hail storms. It also covers your house if it’s destroyed.

Personal Property Coverage

This pays out if belongings inside the home sustain damages from covered events such as fire, theft or severe weather. This covers furniture, home appliances and other personal property (damage or loss).

Loss of Use Coverage

This reimburses expenses related to renting another home while yours is being repaired. It can also cover living expenses if home repairs take you out of your home for 30 days or more, including hotel costs.

Personal Liability Coverage

This pays to defend you in court if you are sued because of injuries or damages at your home caused by you, family members on the insurance policy or even someone who lives with you.

Medical Coverage

This covers the medical bills of people accidentally injured at your home. If they’re not covered by their own health insurance, this will pay up to what’s on the home insurance policy (usually there’s a limit per person).

Flood Coverage

A flood is defined as having three elements–water coming from outside, covering at least 1/4 of a home’s lowest finished floor, and moving debris. Flood insurance is not typically included by home insurers. For more information about flood coverage options for your home, contact your local or state officials. 

Home Warranty

In case something breaks in the home, you can have coverage that covers all or part of the cost to fix it as long as you’ve paid for an annual home warranty plan from a home service company.  

Be sure to check with your home insurer if anything is unclear about what’s covered under home insurance so there are no surprises later on! If you are looking for home insurance for your home, Bethany Insurance plans are customizable to fit the needs of their customers. Stop by their website at www.bethanyins.com to get started today!