Having a homeowner’s insurance policy is a very good idea. Ideally, the essence of having a cover from We Insure Group Miami is to ensure you are covered before the unfortunate happens. In this case, the insurance policy takes care of perils revolving around the house. This could be coverage for damages on the structure of your home, personal belongings and any other thing that can be directly linked to the insured disaster. Here are some common types of coverage associated with homeowners insurance.
Area Of Coverage
Structure of the house
This type of cover takes care of anything that might negatively affect or damage the structure of your home. However, the coverage here is limited to disasters listed on your policy. This implies that a homeowner cannot a claim for damages in his or her house caused by fire if it does not appear in the policy document. As such, when purchasing a policy, it is prudent to ensure that all possible risk factors are covered to avoid future surprises.
Most home insurance policies cover damaged personal belongings. However, like with the structure of the house, the loss of personal belongings must be linked with the insured risk. For instance, loss of personal valuables during a burglary cannot be awarded if you were not insured against it. However, if you are insured against fire, and burglars take advantage of the fire and steal when you are trying to salvage your property, you are entitled to compensation.
In most instances, liability covers body injuries that might be caused by your property or anyone in your household. In some situations, this insurance policy also takes care of damages caused by your pets. Notably, damages are awarded to third parties and not self-inflicted pains. The good thing with liability insurance is that it can also take care of legal fees in case you are taken to court. However, the responsibility of the insurer is limited to the maximum claim highlighted in your policy document.
Additional Living Expenses
This part of homeowners insurance takes care of living costs when an insured disaster has damaged your house. This could be hotel costs, restaurant meals and all other living expenses incurred as your house is being repaired. In case you have rentals, this policy also takes care of lost income during these times. Also, bear in mind that the coverage of this limit is capped at a specific amount depending on the policy.