Do You Know What Your Home Insurance Policy Covers?

If someone asked you exactly what your home insurance policy covered, what would you tell them? Probably that it’s there to pay for the damages if your house gets ruined by forces beyond your control, right? The truth is, there are plenty of things that a home insurance policy will cover:

· Fire

· Hurricane

· Hail

· Lightening

· Vehicle Crash (for when a car comes rolling out of the parking lot and into your kitchen)

· Explosion

What it Probably Doesn’t Cover…

There are some things that your homeowners insurance company isn’t going to cover. Hey, any good business still has to make a profit, right? That means they’ve got to decide what’s going to wreck too much damage to be covered by their policy and what doesn’t. You’ll probably find that while home insurance companies tend to be very sympathetic to the victims of natural disasters, things like floods, hurricanes and earthquakes usually aren’t part of your standard coverage policy.

That’s bad news if you make your home in the Louisiana bayou or along the San Andreas fault, since chances are good sooner or later you’re going to have a run-in of the windy, watery or shaking and quaking kind. That means sooner or later you’re going to need to file a homeowners insurance claim. And if your insurance company won’t pick up the tab you’re going to be left paying for the repairs-and those repairs are no $1.99 special on small potatoes!

Additional Coverage Can Help Pick Up the Slack

Are you completely out of luck just because your average homeowners insurance policy doesn’t stretch to unnatural natural disasters? Absolutely not! See, the entire purpose of a home insurance policy is to protect your financial assets from being completely wiped out if something happens to your house. Having to rebuild after something like that is bad news, which is why most home insurance companies offer additional insurance to help plug the gap.

Requesting additional insurance will go a long way toward helping protect you from the elements. You can use additional insurance to make your home insurance fit you instead of the other way around. And because the difference in your home insurance rates is almost negligible (9 times out of 10) the benefits far outweigh the risk.

Clifford F. Berman is the CEO of QuoteScout.com. Since its launch in 1996 the company has specialized in matching consumers requests for insurance quotes with multiple insurance quotes from both local agents and national insurance carriers. For more information on additional homeowners insurance for your home, visit them on the web at http://www.QuoteScout.com

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