Six coverages that make up your home insurance
Six coverages that make up your home insurance. Home insurance is usually made up of six coverages that financially protect the different aspects of a property. Each one of them is limited by a maximum amount that can be expanded or reduced at your convenience.
Coverage A: covers damage to the structure of the home caused by fire, electrical failure, leaking water, earthquake, hurricane, vandalism, or theft. Structures in the house that are separated from the main residence and damage caused by flooding are excluded.
Cover B: Protects other structures. That is, it covers the structures separate from the main home: tool room, fence, driveway, guest room, or a garage that is separate from the home.
Coverage C: takes care of the personal property. Everything that is inside the house, in case of suffering covered damage, can be replaced up to the limits set by the coverage. Generally, it excludes very expensive jewelry and pieces of art, to protect them they must have their own policy.
Coverage D: Also known as additional living expenses. Covers rent for another home and living expenses incurred while repairing damaged covered property.
Coverage E: This covers personal liability for damages to other people. It is used to face the lawsuits of people who suffer damage within your property.
Coverage F: Coverage of medical payments for injuries to third parties. It covers medical bills and the costs of potential lawsuits from someone who has been injured on the covered property.
If the electrician working in your home gets tangled in a hose you left disorganized, falls, and breaks his collarbone, Insurance Coverage F will pay for medical bills and lawsuits. If the avocado plant, which has been sick since last summer, falls on the neighbor’s roof, Coverage E will protect you.
You don’t have to memorize the different coverages. But it is important to sit down with an insurance advisor to see if, due to the characteristics of your property, they are sufficient or necessary to protect your main asset. Six coverages that make up your home insurance.
Call Univista Insurance and protect your home against all unforeseen events.