Essential Elements That Your Homeowner’s Insurance Policy Should Have

The average American adult works extremely hard to buy a home. Over 64% of Americans own a piece of residential real estate. While owning a home is challenging at times, it is one of the best investments you can make in your adult life. Once you purchase a home, you will need to work on protecting your investment. 

One of the best ways to protect your home is with a comprehensive insurance policy. With all of the different home insurance policies on the market, selecting the right one will not be easy. As you start to review the home insurance policies at your disposal, you need to check for the essential elements below. 

Make Sure The Policy Has Property Liability Coverage

The main purpose of a home insurance policy is to protect your property and the assets it contains. If you are like most people, you enjoy having get-togethers at your home. When bringing people into your home, you need to realize the risk of injury that exists. If someone was to fall down your stairs and hurt themselves, you want insurance to pay for the damages incurred. This is why choosing a home insurance policy that offers liability coverage is crucial. 

The standard liability coverage in home insurance policies covers between $100,000 to $300,00 worth of damage. Many homeowners opt to buy additional liability protection as a safety net. Having a personal liability policy will offer your assets a higher degree of protection if the person injured in your home decides to file a lawsuit. 

A Breakdown of Covered Perils

Before choosing a home insurance policy, you need to read over the fine print. As you start to review a policy, you need to find the section where the perils covered by the policy in question is. Most home insurance policies will cover perils like:

  • Vehicle/airplane damage
  • Lightning strikes
  • Fire
  • Hail damage
  • Wind damage

However, you may have to pay more to add perils like water damage caused by a faulty sprinkler system or frozen plumbing pipes. Damage from disasters like hurricanes, earthquakes and floods isn’t typically covered in basic home insurance policies. If you live in an area where these natural disasters are common, then you need to find a policy that covers them. With the help of the team at Huntington Pacific Insurance Agency, you can find a comprehensive home insurance policy that meets your needs. 

Check the Contents Coverage Being Offered

Another essential element you need to look for in a home insurance policy is home contents coverage. If your home is flooded or catches on fire, the possessions contained within it might get destroyed. Standard home insurance policies will estimate the value of the contents in a home based on the number of rooms and the size of the property. If you have expensive items contained in your home, then you might need a premium policy that will cover the cost of these possessions if they are damaged. 

Want to find out more about how we can save you money by bundling your insurance policies? If so, it is time to reach out to a member of our team for assistance.

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Are you ready to save time, aggravation, and money? The team at Huntington Pacific Insurance is here and ready to make the process as painless as possible. We look forward to meeting you!

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