Most standard homeowners insurance policies will provide coverage for damage to your home (and many of the items in your home) caused
by:
Homeowners insurance also provides coverage for liability claims, medical
payments to third parties, and legal costs if a lawsuit is brought against you. The most common amount of liability coverage included
in a homeowners policy is $100,000, but you may need much more, depending on your circumstances.
Read your homeowners insurance policy to
find out exactly what is and is not covered. Do this before you suffer a loss,
so you won't
be surprised. Most insurers exclude damages caused by an act of
war, nuclear accident, flood, earthquake, and terrorism, although you
may be
able to purchase special policies or endorsements that will cover these events.
Most homeowners insurance policies limit coverage for certain high-priced or hard-to-replace items. Additional endorsements or floaters
will be necessary to protect items like engagement rings, watches, furs, antiques, and other valuables. You'll need to have each item
appraised.
