3 Things That You May Not Know Are Included In Your Standard Home Insurance Coverage
by Vilma Maki
Many homeowners are rather familiar with the major coverage options offered under their home insurance policy. For instance, many homeowners know that if their home is damaged in a fire, their home insurance coverage will help to cover the cost of repairing or rebuilding their home. However, this type of major coverage is just one of the many benefits that a standard home insurance policy can provide. In this article, you can learn more about three of the lesser-known coverage options that these policies often include.
Coverage For Spoiled Food
In the event of an extended power outage, you will likely find that all of the food in your fridge and freezer needs to be disposed of. Replacing all of this food can be a rather costly task. That is precisely why many home insurance policies offer coverage for this exact situation. If your food spoils due to a power outage, your home insurance policy can help to cover at least a portion of the cost associated with replacing this food.
Coverage For Items In Transit
Most standard home insurance policies not only provide coverage for your personal belongings while they are in your home. but also when you take these items out of your home. For instance, any items that you take with you on a vacation will continue to be covered under your home insurance coverage even if these items are damaged or stolen while outside of your home. This type of coverage also applies to items that are temporarily stored in your vehicle or even at your office. When trying to determine whether or not a specific item is covered, simply ask yourself one question. Is the item typically stored in your home? If the answer to this question is yes, that item will most likely be covered under your home insurance policy.
Coverage For Costs Associated With Being Displaced From Your Home
If your home is severely damaged, you will likely be displaced from your home until at least some of the repairs can be completed. This means that you will need to pay for things such as temporary housing and dining out. The good news is that many standard home insurance policies will provide coverage for these expenses as long as they are required as a result of covered repairs. However, you should be aware that there is typically a limited amount of coverage allowed per day. Consequently, if you choose to stay at an expensive hotel, you will need to cover any difference in price out of your own pocket.
For more information on home insurance coverage, contact a company like Binyon Agency.
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About Me
After we purchased our first home, we realized that it might be a good idea to evaluate our insurance coverage. Although we had purchased homeowners insurance before, we had never owned a policy as large as the one we would need for our new place. Also, our new home had a trampoline and a swimming pool, which made us worried about liability. To iron out the details, I decided to meet with our insurance agent. We talked about things like monthly premiums, coverage limits, and deductibles, and it was incredible to learn more about the terminology. This blog is designed to help you with the same types of questions.