5 Home Insurance Coverages You Need to Know About
For many of us, the home we live in is the largest asset that we will own in our lifetimes. There is an incredible sense of joy and pride that comes along with homeownership, and protecting that asset with insurance can come with many questions about what the best coverages are for your home. Each home is different, and each home will require its own unique set of coverages based on the characteristics of the home.
The unique aspect of homeowner’s insurance coverage is that, with the right policy, it protects more than just your home. Here are some coverages that a homeowner’s insurance policy might cover that will go above and beyond protecting your home. Talk to your agent to see if you have these coverages in your homeowner’s insurance policy.
1. Extended Land Liability – The homeowner’s insurance liability coverage is extended to other land that you own, if there is no structure on the land. For example: If you have a homeowner’s insurance policy for your primary dwelling, and also own land that is used for personal recreation, then the liability coverage is extended to the land that is used for recreation.
2. Identity Fraud Reimbursement – Protecting your identity is becoming more and more important with the ever increasing use of information over the internet. Some homeowner’s insurance policies will give you coverage if your identity is stolen, a nice piece of mind that can be included in the insurance for the building.
3. Siding and Roof Restoration – Storms happen, and sometimes your roof or house siding gets damaged in those storms. Given that it can be quite some time from when the siding or roof is replaced to when it gets damaged, the products, materials, and colors could change. Siding and roof restoration gives you coverage to replace the roof or siding that is not damaged so that it matches the new materials.
4. Personal Property at Other Residences – Stuff. We all have stuff, and sometimes a lifetime of things can be cumbersome to keep in one place. Therefore, some homeowner’s insurance policies will give you a percentage of the Coverage C (Contents) that is insured with your home to your belongings that are stored at a different address. That can be a relative’s home, storage unit, or other dwelling.
5. Underground Service Line Coverage – This coverage is most important in older homes, but is also a nice piece of mind for all homeowner’s. The utility pipes and cables that run underground to our home are vital to delivering utilities. This coverage will reimburse you if the pipes or lines break and are no longer usable that are on your property. Things corrode with time, and it can be expensive to repair the underground pipes and lines.
We have several companies that can help apply these coverage options to your homeowner’s policy. Whether in Cincinnati, Ohio, Northern Kentucky, or our other insurance agency locations, we have you covered with some of the very best homeowner’s products in the country. Please don’t hesitate to contact us to find out more.