As with many legal agreements, many people don’t know exactly what they are purchasing when they get home insurance. The general impression is that home insurance is simply to cover the costs of repair or replacement if the home is damaged or destroyed by fire, flood, tornado, etc. While this is true, this is only the beginning of what you get when you purchase home insurance. There are a number of other things that a home insurance policy can provide you.
Personal Belongings Insurance
If your entire home burns up in a fire, then a lot more would be lost than just the walls and roof. Everything that you had in that house can be lost as well. Fortunately, most home insurance policies will pay for not only the damage to your home, but also the damage to your belongings, allowing you to put your life back together more easily.
Liability Insurance
Having some sort of damage done to your house isn’t the only type of disaster that can affect you. If you have a guest in your home, or a workman comes to work on something, and they are injured while on your property, you could be in store for a hefty lawsuit. A home insurance policy can also provide liability insurance, so that whatever settlement is decided in court, you won’t have to worry about it, as the insurance company will pay it out for you.
Emergency Housing
If your house is completely destroyed, like hurricanes have done to homes in St. Augustine, you might simply expect to get a check from your insurance company. That check will help you get back on your feet next week or next month, but it doesn’t really help when you’re standing in the wreckage of your home, wondering where you will sleep that night. Some home insurance policies will help you there, too, and provide housing for you and your family in the wake of a catastrophe.
Overall, buying property insurance for your home could be one of the best decisions you ever make. Everyone hopes that they won’t need it, but the moment you do need it, it’s too late. Don’t get stuck without insurance, contact a reputable company like ThompsonBaker today.
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