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Protect Your Home - Get Home Owner's Insurance Policy

We have all heard the quote, "There's no place like home” and we even believe there is no match for a place like it. Your home stands for stability and protection. It is your duty to protect such a place that accepts you at all times, home owner's insurance policy is the best way to secure. This policy is a combined package, which consists of 5 different insurance covers. The home owner's insurance policy covers the following insurances:

Medical Payments/Health Insurance:

This policy covers everyone, who has suffered an injury at your home except for your family members. It also covers the payment for relevant medical reparation which is incurred within a year from the time of the accident. The medical payment coverage from this policy can be applicable to you, if you get injured when away from home, due to someone else's action.

Personal Liability:

This insurance covers non-auto accidents that might occur on or off your property. This is applicative if the damage or injury is caused by you, your family member or your pet. The policy coverage shall also pay the amount that the court charges as defending costs. Unlike other coverage in the home owner's policy, personal liability does not have a verifiable amount that needs to be met before the payment of losses.

Property Damage:

Under Property Damage, one can make claims for any damage caused to one's home and personal property. Disjoined structures like tool, sheds and garages get only 10% of the total property coverage. This coverage can be extended up to 50% in some cases. A home owner's insurance policy also offers off-premise coverage, which compensates the cost of assets that get stolen outside your home.

Additional Living Expenses:

This policy pays for the cost, which is required to move into a motel or a hotel after one's house is damaged or in need of repairs. However, as a part of the policy, it is compulsory for the home owner's insurance policy to cover the incident that caused the damage. The insurance company shall also pay for the basic and additional living expenses. However, it shall not pay additional living expenses if you move in with an acquaintance or relative.

Personal Property Floater:

This insurance policy also provides restricted coverage for valuables like jewellery, fur, silver, gold, etc. It is important to include a special feature in your insurance policy, in order to insure valuables for this policy. This policy is an intelligent one, to take upon as it can itemize belongings, provide a description for it and specify excluded perils.

Lastly, the home owner's insurance policy does not cover cars, aircrafts or pets. But, it does cover injury or damage, caused by your pet to persons outside your home and their belongings.