Homeowners insurance is designed to help protect your home, your belongings, and your property. Where you live, the age of your house, other structures on your property, and other information about the area you live in can influence the type of homeowners insurance you purchase, as well as how much it might cost. Like other types of insurance policies, a homeowners policy has basic coverages that it will offer.

 

Helping protect your home is the first step towards also guarding the investment you have made. Besides the physical land, you have also put time and effort into making your house into a place where you enjoy spending time with your and friends. Proving that these structures are so much more than the materials they are built of; they are part of our lasting memories.

 

If you own your home, homeowners insurance is an essential to helping keep intact the memories you are creating. However, the basic level of coverage might not be enough to cover the unique risks your property faces. Here are a few additional insurance options to fully cover your home.

 

Home Insurance Coverage

 

Homeowners insurance tends to cover many of the basics for helping protect your home, your property, and the people who live there as well as visitors. A basic level of homeowners insurance in North Carolina can cover:

 

• Dwelling insurance -covers the physical structure of your home and can be used to repair damage to your home or cover the costs to rebuild your home if needed.
• Other structures –covers garages, sheds, or workshops that aren’t attached to your home.
• Personal property –covers the contents of your home. This personal property can include electronics, clothes, appliances, and anything else that is unattached to your home’s structure.
• Personal liability –covers you and your family if someone else is injured on your property and it’s found to be your fault.
• Medical payment insurance coverage –can help cover the costs of medical care that might be needed because of an injury incurred on your property.
• Homeowners insurance can also cover the loss of use of your property –for instance, providing financial assistance for a hotel or other accommodation while your property is not able to be used.

Additional Home Insurance Options

 

When looking for the right homeowners insurance, it’s important to consider what additional insurance options you might need that are not covered under your standard policy. This might include flood insurance if you live in an area prone to flooding, or another natural disaster policy rider to help protect against natural disasters that could strike your area. You can purchase mold insurance if you live in a damp climate. You can purchase a policy rider helping cover damage from backed up or frozen plumbing if you live somewhere very cold.

 

It’s always important to read the fine print on your homeowners insurance policy to find out what exclusions there are to your coverage. This can help you to understand better what your insurance policy will cover and what it won’t. Common exclusions include:

 

• Flood coverage
• Commercial or business equipment
• Earthquake coverage
• Valuable personal property
• Future assets
• Pollution damage
• Intentional damage and normal wear and tear
• Construction defects
• Frozen pipes
• Vandalism
• Pets or other animals
• Tenant’s property

 

Although these things might be excluded from your basic homeowners insurance policy, you can purchase additional policy riders, or endorsements, that do offer some of these coverage options. If you live in a flood or earthquake-prone area, you might have a higher risk of your home or property being damaged because of an event like this.

 

You can also purchase mold coverage, pet insurance for animals on your property, boat or other watercraft insurance, sewer backup insurance, insurance for high-dollar personal items, theft coverage, secondary residence premises endorsement (for second homes or vacation homes), additional personal injury liability coverage, and other policy riders depending on your home’s risk.

 

Each of these policy riders can be used to personalize your homeowners insurance to create a network of insurance coverage that helps protect your home, your property, and your family. This network of a basic homeowners insurance and policy riders can allow you to insure  your investment and help continue the longevity of your property, no matter what comes your way.

 

To learn more about additional home insurance options, contact the agents at Protective Agency  at (877) (739-9367). Our licensed insurance team will be happy to answer any questions you have.