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What to Know About the Main Homeowners Insurance Coverages

Understanding the main coverages included in your homeowners insurance policy.

If you own a home, then you know that securing homeowners insurance in Plano, Texas is a must.  However, many people do not know very much about what this coverage can do for them.  Here’s what you need to know about the main coverages included in your home insurance policy.

  • Dwelling Coverage

Dwelling coverage is the portion of your homeowners insurance that covers physical damages to your home’s structure.  For instance, this section of your policy will offer coverage for the damages caused by fallen trees, fire, wind, hail, and other extreme weather events.  This part of your insurance will also take care of rebuilding your home to current code in the event of a total loss event.  Please note that standard homeowners insurance will not offer coverage for the damages caused by flooding and earthquakes.  If you live in an area prone to these risks, then you will need to secure these coverages separately.

  • Personal Property Coverage

This portion of your homeowners insurance offers coverage for your personal possessions if they are damaged or stolen due to a covered loss.  For instance, if many of your belongings were damaged in a house fire, then the personal property section of your policy would cover the cost of repairing or replacing them. It’s important to understand that your personal property coverage is subject to limitations.  If you own high-value items that exceed your coverage limits, then they will not be covered under your standard home policy.  You will need to secure supplemental personal property insurance to protect higher value belongings.

  • Personal Liability Coverage

Personal liability coverage will protect you and the other members of your household in the event that you are held responsible for third-party injuries or property damages.  For instance, if someone were to trip and injure themselves while on your property, then the personal liability portion of your insurance would offer coverage for the injured party’s medical costs and your legal fees in the event of a lawsuit.

This is what you need to know about the main coverages included in your homeowners insurance in Plano, Texas.  Need help securing the right home policy to meet your needs?  If so, then contact the experts at Tri-Star Insurance/HUB International.  We are ready to get you covered today.