When picking out your home insurance, it’s important to know what to expect. Here are the 6 things you should know about homeowner’s insurance.
What Is Included
- In the event of fire, theft, storms or vandalism, most insurance policies will pay for damages to your home and possessions in the home.
- Provides liability insurance if someone got hurt on your property and were to file a lawsuit.
- Covers the cost of a hotel if you are displaced from your home.
- Covers water damage only under certain conditions. A general rule-of-thumb for traditional homeowner’s insurance is: If the water comes down, you’re covered. If the water comes up, you’re not covered.
- Jewelry is covered, but typically has a limit. If you own more than what is covered, you may want to invest in supplemental insurance in case anything is lost or stolen.
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