Homeowner’s Insurance policy protects you in more ways than you think. Besides helping you to repair damages from a covered loss or to rebuild your home, it also pays the costs of lawsuits, the expenses for temporary housing while the home is under repairs, and much more. To know what is covered and what is not, contact your insurance carrier directly and learn the exclusions and coverage limits on your policy. You can also speak to a licensed independent insurance agent who can help by answering the questions you might have.

Keep in mind that the coverage depends on individual’s Homeowner’s Insurance policy. However, there are common coverages that are included in the policies or are available as endorsements. These include:

• Dwelling coverage – the damages to your home that occurred as a result of covered losses, such as fire, as well as attached structures, will be covered by the insurance, including rebuilding and repairs of your home.
• Unattached structures coverage – detached garage, fence, or barn, if damaged in a covered accident, will be protected by your insurance.
• Personal property and belongings – if your personal belongings are damaged or stolen, the coverage will help you get the items replaced according to the dollar amount written in the policy. Keeping an inventory of your belongings and a record of their value will be helpful in the event you need to make a claim.
• Additional living expenses – in the event your home is damaged to such extent that you are unable to live there while the repairs are taking place, this coverage will pay for your temporary housing expenses.
• Personal liability – the coverage pays for the damages that you cause to other people’s property. Moreover, it will help with legal defense and lawsuit expenses if you are sued for the damages.
• Medical payments – bodily injury liability coverage will pay for medical expenses of a guest injured at your property. Moreover, it will help with legal defense and lawsuit expenses if you are sued.

There are many more available coverage options that you can add to your Homeowner’s Insurance policy. If you already have a policy, make sure to review it carefully in order to know your coverage and limits. If you are looking for policy, a licensed independent agent can describe the various coverage options as well as additional coverages at no cost to you.