Home Owners Insurance

A simple homeowner’s insurance policy protects owners against property damage that results from things like fire, lightning, wind or hail storms. It may also provide for motel and food costs if you are forced out of your home while such damages are under repair.

A standard policy, however, does not cover flood or earthquake damages. Since these issues are usually specific to certain regions of the country and can cause extreme damage, they can be purchased as separate policies or riders. If you live in a flood zone or near an earthquake fault line you may be required by your mortgage company to carry these protections.

A simple policy will also cover homeowners against loss from theft or vandalism as well as reimbursement for personal property destroyed in natural disasters. It may also provide for something that many people may not normally associate with home protection, that is, liability coverage for lawsuits brought against owners by people who might be injured on the property. This includes the cost of legal defense up to the allowed policy limit. Furthermore, most policies will have a provision that will cover the basic medical expenses for the parties involved.

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