If you own a home, chances are that you have it covered by an insurance plan. According to Insurance Business America, 93% of homeowners carry home insurance. While most people know that this kind of coverage protects things like a house fire or a break-in, there are many other things that may be covered by this type of policy that you may be unaware of. Here are three things you didn’t know quality home insurance covers.
1. Identity Theft
One aspect that many homeowners insurance policies are starting to cover is identity theft. If your policy does not include it from the get-go, they like to offer an add-on option to ensure you are covered in case anyone steals your identity and racks up debt in your name. This can help to offset the costs associated with clearing your good name when someone steals your social security number.
2. Lawsuits
Several homeowners are unaware of the fact that their policy might cover lawsuits. If someone is bitten by your dog, if someone slips and falls on your property, or if a roofer falls off of your roof, they may attempt to sue you for their injuries. Your home insurance plan will pay legal costs associated with the lawsuit and pay for any medical expenses or awards the other party is granted, as long as you were not doing anything illegal that caused injuries to someone.
3. Hotel Expenses After a Covered Event
The final thing that you may not realize that home insurance covers is hotel expenses after a covered event. For example, if your home catches on fire and is unlivable, your coverage plan will cover the costs of hotel expenses until your home is repaired or you can find suitable accommodations if the repairs are expected to be lengthy.
A comprehensive plan helps to protect the many investments you have made in your property, as well as the assets that belong to it. Having a great, personalized policy is important for fully protecting your space, yourself, and the loved ones you live with. If you are looking to purchase a new home insurance policy, we would love to help you find the right coverage. Reach out to AOAWest today to get started!