The Essentials of Homeowners’ Insurance

The Essentials of Homeowners’ Insurance

Some of the details of buying a home can temper your excitement, like dealing with home appraisals, escrow, and pre-move in repairs. Your homeowners’ insurance should not be one of the excruciating details. At Rock Hard Insurance Agency in Fontana, CA, we want you to understand what a standard policy gets you and which policy areas you can increase coverage.

A standard policy covers four home components – property damage, other structures, living expenses, and liability. The property damage component pays for damage from a named peril to the interior or the exterior of the home. This portion of the policy also pays for damage to personal property.

The other structures policy protections extend to the structures on the property not connected to the home. This includes items like detached garages, fences, sheds, and workshops. If these structures incur property damage due to a named peril or their contents, the policy covers their repair or replacement.

The living expenses component covers the cost of living in a hotel or apartment while damage to the home gets repaired. It often also covers per diem for meals.

The liability coverage pays for court costs and settlements if someone gets injured on your property. This usually equals about ten percent of your home’s worth. That means, for a home valued at $200,000, you get about $20,000 of liability coverage. If that does not sound like enough coverage, then you can add to it. It pays for medical costs and court settlements plus attorney fees. 

Contact Rock Hard Insurance Agency in Fontana, CA for more information on home insurance. We can help you protect your home investment.