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A basic homeowners insurance quotes policy covers perils, which are specifically
named risks such as lightning, theft, fire, smoke, wind, and
explosion. With this type of homeowners insurance quotes policy, any risk that is not
mentioned specifically in your homeowners insurance quotes policy is not covered. You
can also purchase special policies that cover the house for
all perils except those explicitly excluded by the homeowners insurance quotes policy,
such as pet damage.
Homeowners insurance quotes policies vary by company more than by state. The
chart below illustrates typical coverage under a standard
homeowners insurance quotes policy.
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| COVERAGE |
DESCRIPTION/
EXPLANATION |
POSSIBLE EXCLUSIONS |
| Dwelling |
Residence, attached/built-in garage
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Excluded perils. Most frequently excluded
are:
Earthquake, except by special endorsement
Floods
Pet Damage
Damage by birds, rodents, and insects
Pollution damage
Water damage resulting from flood or sewer backup,
except sewer back up coverage by a special endorsement
Deliberate damage you do to your own or someone
else's property
Normal wear and tear
War
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Other
Structures
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Includes structures you own that are not attached
to the house, such as storage sheds, fences, and barns.
Motor vehicles such as your lawn mower or motorized
wheelchair are covered, but your automobile must be
covered by a separate auto insurance policy.
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| Personal Property |
Covers damage, theft (some items subject to special
limits) or destruction of items such as televisions,
stereos, furniture, etc.
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Generally excludes same perils as dwelling coverage.
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| Additional Living Expenses |
Covers the additional costs of living in case you
have to move out of your home and live in a hotel
or rental while it is being repaired for a covered
loss.
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| Basic Liability Insurance and Medical
Payments to Others |
Covers expenses in the event you are found to be
legally responsible for damages or injuries to others,
on or off your property.
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Damage done intentionally
Business liability
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Exclusions and Additional Coverage
Read your homeowners insurance quotes policy carefully to find out what is
excluded from coverage. In addition to excluded perils, your
coverage may exclude:
- Property/liability of tenants, roomers, or boarders.
Tenants can purchase renters insurance.
- Business liability for damages, resulting
from home business activities and professional services.
Injuries or property damage as a result of business activities
are not covered. Talk to your insurance agent about separate
business-related coverage.
Additional coverages generally included in your homeowners insurance quotes policy include:
- Reasonable repairs to prevent a further loss,such
as boarding up a hole in your roof damaged by fire to prevent
rain from getting inside.
- Lightning damage to trees, plants, shrubs
and lawns.
- Debris removal (for example, removal of
the wind damaged trees that have fallen or are leaning on
your house).
- Fire department service charges
You can also add to your package by purchasing coverage for:
- Higher valued jewelry (your policy provides
limited coverage)
- Earthquake damage
Flood insurance must be purchased separately.
Contact the National Flood Insurance Program or your insurance
agent if you live in a coastal or low-lying area. Also, inquire
if the holder of your mortgage requires you to have flood
insurance.
What If Someone Gets Hurt on My Property?
If you or members of your household are hurt on your property,
your expenses typically would be covered by your health insurance
policy. They will not be covered by homeowners insurance.
Homeowners insurance does provide basic liability coverage,
which protects you and family members who are part of your
household if you are found legally responsible by someone
for injuries or damages, either on or off your property. You
may be held legally liable for such events even though you
didn't intend for them to happen. Liability coverage includes
the following at no additional costs:
- Legal defense costs
- Payments for first aid to others at the scene of an accident
- Payments for damage to someone else's property caused
by you or your family (a child damages a neighbor's new
concrete sidewalk by walking on it before it dries.)
- Payments for loss assessments resulting from your membership
in a property association
Bodily injury and property damage generally are not covered
while you are operating a motor vehicle, airplane, or boat.
You need separate policies for these activities.
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