What are the damages covered in home insurance?
What are the damages covered in home insurance? All homeowners who buy their home through a mortgage are required to purchase homeowners insurance to protect the investment. Although Florida law does not require it, the lender or the bank that made the loan does require insuring the home they guarantee.
But what does typical homeowners insurance protect?
Most insurances cover the damages that the home and personal property of its owner may suffer. They also cover the physical damage suffered by a third party within your property and the expenses you incur, if due to a covered peril you are forced to temporarily live outside your home.
The typical owner’s insurance covers the structures of the house -walls, floors, and ceiling-, the attached structures -garages or guest room-, the appliances, if they are damaged by hazards specified in the policy, -lightning, explosion, fire-, personal belongings, if they are stolen or vandalized. Pipe breaks, short circuits, broken windows, and doors. That is, if a tree breaks through the roof of your house, you are covered. If a fire caused by lightning or an accident burns down your home, you’re also covered. The same as if a car crashes into your facade.
In general, most contracts will protect you from damage caused by a tornado, hurricane, hail, or strong winds on your property. What are the damages covered in home insurance?
However, not all potential damage to a home is protected in a typical policy. There are several exceptions. In general, neither the floods, caused by the sea, river, or excessive rain, are covered. Nor, is the damage caused by natural events as rare as tsunamis, earthquakes, or nuclear explosions. There are specific policies for this type of event.