Covering Your House 101

You know that homeowners insurance is a product you should have, but many people's understanding stops there. Unfortunately, that can leave them unsure exactly how their policy will protect them when it comes time to use it. So you are not left in the dark, here are a few key components of your home insurance policy as explained by the experts.

• Coverage: Most home insurance policies contain coverage for damages that come to your property or personal possessions due to fire, theft, vandalism, and certain types of storms. Additionally, they include liability insurance and shelter costs to help you cover your living expenses if you are unable to live in your house.
• Type Of Coverage: Your homeowners insurance policy will either include coverage for replacement cost or actual cash value. Replacement cost will cover buying the item new today, while actual cash value will factor depreciation into your reimbursement.
• Exclusions: Homeowners insurance generally does not include coverage for power failure, flooding, bad workmanship, government action, nuclear hazard, and movements of the earth (e.g. earthquakes, landslides). In general, water damage caused by water from above (e.g. rainwater) is covered, while water from below (e.g. backed-up sewer) is not.
• Savings: Installing safety features can help bring your premiums down. In fact, just putting in a deadbolt can help you save 5 percent, while a more sophisticated burglar alarm system could help you knock as much as 20 percent off your premiums!

Is your insurance agency helping you get a clear understanding of your home insurance coverage? To work with an expert team who can help you get the comprehension you deserve, contact Jack Stone Insurance Agency. Serving families in Antioch and surrounding areas, we are here to help you get the home insurance you need to be fully protected, and to help you fully understand it.