Homeowners insurance can cover damage caused by such perils as fire, windstorms, hail, lightning, and vandalism. Typically, damage caused by floods and earthquakes are excluded. Optional coverages and policies may be available to cover damage due to additional perils.
Types of Claims and Cause of Damage
Reference: from our friends at iii.org
- Property Damage – This is by far the biggest claim maker, which includes damage to your home and any other covered structures on your property due to water, fire, and severe storms among others.
- Natural Disasters – Such as floods and earthquakes are usually not covered by basic plans, meaning, you’ll need added coverage or a separate policy to keep your valuables protected.
- Standard Home Liability – This will cover you financially. If someone is injured or their personal belongings are damaged while on your property.
- Extra Money for Living – If your home is uninhabitable to live in while it’s being repaired or rebuilt, most policies will pay for other living arrangements and expenses, like groceries.
- Personal Property Coverage (contents of your home) – This will depend on the policy. Items including furniture may only be covered up to a limited value; however, items like your valuables may not be covered and will need additional insurance.
The average annual cost of homeowners insurance is $1,132 nationwide, but that cost can vary from region to region, based on natural hazards such as floods and earthquakes.
What Homeowners Insurance Does Not Cover
A homeowners insurance policy can cover damage caused by perils such as fire, windstorms, hail, lightning, and vandalism. Typically, damage caused by floods and earthquakes are excluded. Optional coverages and policies may be available to cover damage due to additional perils.
When Do I Need Homeowners Insurance?
Unlike driving a car, you can legally own a home without homeowners insurance. However; if you finance your home with a mortgage company, your lender most likely will require you to have home insurance coverage. This will protect your home in case of damage caused by unforeseen circumstances, such as fires or natural disasters.
Frequently Asked Questions about Homeowners Insurance
Will Homeowners insurance cover plumbing?
Virtually all home insurance policies today cover plumbing leaks that are sudden and accidental. In other words, you’re covered for a pipe that abruptly springs a leak, as opposed to one than trickles out water over months or years.
Will Homeowners insurance cover a roof leak?
In many cases, roof repairs are covered by homeowners insurance. If there’s a wind storm that comes through and blows some shingles off or if a heavy snowstorm damages your roof, insurance will likely cover the cost. If the damage was caused by an unavoidable event, you are typically covered.
Don’t go another day without proper homeowners insurance. Keep your memories protected with the right policy from Densmore Insurance Strategies, Inc.
Densmore Insurance Strategies, Inc. provides Homeowners Insurance for residents near Bondurant, Ankeny Iowa, Altoona Iowa , Bondurant Iowa, Des Moines Iowa, West Des Moines Iowa,Johnston Iowa, Waukee Iowa, Grimes Iowa, Polk City Iowa,Pleasant Hill Iowa, Norwalk Iowa ,Huxley Iowa, and Urbandale Iowa. We are licensed to serve Iowa, Illinois, Nebraska, Florida, Missouri, Arizona, Texas, and Tennessee.