Having homeowners’ insurance is an important part of owning a home, so it is important to ask some questions when choosing a policy. Different policies cover different things when it comes to homeowners’ insurance, and what type of coverage you’ll need is dependent on a number of factors. Let’s look at some questions you need answers to before choosing a homeowners’ insurance policy.
Coverage
The biggest question is what exactly is covered in your policy. There are some exclusions in many homeowners’ policies that we will look at more closely below, but let’s start with what things should be covered in most policies. Most homeowners’ policies cover the actual structure that is your home or “primary dwelling”. Policies also cover other structures on the property, such as a shed or storage building.
In addition to the property itself, homeowners’ policies also cover the owners personal property. Property is covered in the event of a break in or in the event there is damage to the home that extends to items within the structures on the property. Lastly, most homeowners’ policies cover liability claims. Liability covers the homeowner should someone visiting the property get hurt while on the property in a fall or other such situation.
Exclusions
There are some circumstances that are usually excluded from a homeowners’ insurance policy. Flood damage is one common exclusion that many homeowners don’t realize they don’t have until it’s too late. Earthquake coverage is also generally not included in a general policy. If you live in areas prone to flooding or earthquakes, it is important to add on these supplemental policies.
Supplemental Policies and Exceptions
As mentioned above some common policy add ons are flood coverage and earthquake coverage. Here in Maryland earthquakes aren’t common so this policy may not be worth the investment, but flood coverage may be a good idea. There are some supplemental add ons that can cover things such as sinkholes, if you think that may be relevant to you.
In some cases there are things that are not included in your policy, and can or can’t be added based on the insurance provider you choose. Having a trampoline on your property can cause problems with some insurance companies, as can owning certain types of dogs. When considering your insurance carrier make sure to check with them on these gray areas.
Choosing a homeowners’ insurance policy shouldn’t be taken lightly, but it also doesn’t have to be stressful. If you are in need of homeowners’ insurance in Carroll County, MD call us at Freedom Insurance today to discuss your needs. We are happy to answer any questions you may have and help walk you through the plans that are available to you.
