Home Owners
Written on October 20, 2009 – 9:41 am | by admin |Homeowners Insurance
The type of homeowners insurance that one receives will depend upon the structure of home. A house’s entire structure will be covered along with any sheds and garages. A manufactured home’s structure will usually be covered but any detached sheds and garages may require additional insurance.
Homeowners insurance for a condo will usually include interior structures and any lighting fixtures. Renters insurance does not include any physical structure or the rented property but protects renters’ contents and liabilities.
Many homeowners insurance companies also protect the structure of your home from natural disasters and weather damages, like fire, smoke, theft, vandalism, lightning, hail, wind, frozen plumbing, explosion and any implosions from snow and ice or other causes. Floods and earthquakes are usually specifically excluded from insurance policies but can also include mold, bacteria, fungus, wet rot and dry rot.
It is important to check your home’s structure for all of these things regularly so damage does not escalate. It is also very important to invest in flood insurance in addition to homeowners insurance to protect to structure of your home. Floods occur in every state and no home is unsusceptible to floods. Most homes that are ruined by floods have to be repaired using disaster home loans that have to be repaid with interest.
It is important to be aware of what water damage is included in your homeowners insurance or flood insurance. Some water damage may not be due to flooding and not be covered under your flood insurance but may be covered under your homeowners insurance. If your bills are getting out of hand, you could consider debt settlement to help you out.
