One of the most important and largest investments for many people is their house. Getting the right coverage of Home Insurance Dansville NY is very important. The coverage plan differs based on the insurer. A standard home insurance policy has four major components in it. The components and their details are listed below.
Structure coverage:
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Structural coverage is one of the important aspects of a home insurance policy. Damages caused by natural disasters, storms and fires are included in this coverage. It is good to insure your house 100 percent so that you can use that money for rebuilding the house. If the house is completely destroyed in the fire then you can use the coverage amount for constructing a new house.
To identify the correct value of the house, you need to hire a builder so as to get an estimate. This policy is very basic and it is used to protect the house against all the major disasters. Some of the disasters which are not covered in these policies are nuclear accidents, earthquakes and floods. In this policy, the additional structures of the house like shed and garage will also be included. The coverage value will differ based on the insurance company.
Contents coverage:
Personal belongings are covered in this insurance. If the personal belongings are lost in fire, disaster or stolen then you can claim using this insurance policy. 50% of the house structure value will be the standard limit of this policy. To identify the correct amount first take a contents list of your house. The list of content includes appliances, tools, clothing, and furniture. To make the claiming procedure fast and easy take a picture of all the valuable things and save them in a safe box. Things lost or stolen anywhere in the world can be claimed in this insurance type.
Liability protection:
There are three coverage types in a standard policy. The damage to the other properties is covered in this policy. For example, if your kid damages the neighbor house window by throwing the ball then the cost of replacing or repairing the window is covered in this policy. The second coverage is personal liability. If someone sues you for the damage of the property legally then this insurance coverage will provide cost for defending you in court. The medical bill for the other injury is also covered in this policy. For example, if your relative or friend is injured in your house then their medical bills can be claimed in this policy.
Living expense reimbursement:
If the house is destroyed by fire or other calamities then all the expenses are covered in this policy. Car rental, hotel bills, and food bills are covered in this insurance policy. 20% of the house value is provided in this policy. Additional riders like jewelry and artwork must be included in the basic coverage. If you are living in the flood area then you need special insurance for that. Federal flood insurance is available for that kind of person. This policy can be purchased from the insurer.
The coverage varies based on the insurance company. So do simple research before purchasing a home insurance policy. If the company provides different policies check with friends and relatives. Ask for the reference from the neighbors. After getting a quotation from the shortlisted insurance company check their ratings because if the insurance company takes extra time for processing the amount then you will have financial trouble.
Always choose high deductible insurance. Ask the insurance company for discounts. If you have installed an alarm system, smoke detector and fireproof material in your house then you can avail of low premium insurance.
Genesee Valley Agency is one of the leading Home Insurance Dansville NY. If you have any doubts or queries regarding home insurance or auto insurance, visit the website.
