Looking for Home Owners Insurance in Dallas?
Homeowners insurance is a form of property insurance that provides financial protection in case of loss and damage to an individual’s house and assets.
A standard homeowner’s insurance policy includes the following:
- Insurance for natural calamities – your Homeowners policy tends to repay or rebuild your home if it is damaged or destroyed by fire, hurricanes, lightning, or any other disasters mentioned in your policy.
- Liability protection– the coverage not only includes the damage to your property but also your liability against accidents at home or on property.
- Insurance for your personality belongings– this includes coverage of any damage to your jewelry, art, furs, and silverware within a certain limit.
- Additional living expenses (ALE) – if due to damage to your property you cannot live there then, the policy will provide an additional cost of living away from the home. It covers hotel bills, meals, and other expenses, incurred while your house is being rebuilt. If you have rented your house then ALE will also cover the rent that you were earlier collecting from your tenant.
- Insurance for condominiums– it covers some part of your interior structure as defined in bylaws or property lease.
Though the policy covers multiple hazards, at times there are exclusions. These are;
- Earthquake and water damage– disasters such as earthquakes and floods are not covered by your standard policy. Also, if you have overflowed from your sewer system or drains, your policy will not cover its damage.
- Maintenance issues– termites, bird, insect damage, rust, or general wear and tear are not covered.
- Other exclusions- unforeseen damage caused war and nuclear hazards are not covered by homeowner’s insurance.
Knowing what’s covered and what isn’t covered in your Homeowners insurance policy can save you a lot of money and breakdown down the line.
Contact Us Today for Home Owners Insurance in Dallas