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Typical Policy 2017-01-14T18:59:02+00:00

The Typical Homeowner’s Policy

What it Covers

Your home may well be the largest investment you’ll ever make, and a well-designed homeowner’s policy ought to cover damage to your home and your belongings resulting from any number of causes. In addition to protecting your property, a policy from Ellis Insurance may also provide liability coverage.

The following is a list of the types of coverage provided by a basic homeowner’s policy:

Coverage A

Your home and attached structures, such as a garage.

Coverage B

Structures located on your property such as a shed, swimming pool, unattached garages and fences.

Coverage C

Personal property, including clothing and furniture.

Coverage D

Loss of Use – Additional expenses you may incur (hotel, food, laundry, etc.). If forced to leave your house due to a covered loss.

Coverage E

Personal liability coverage in case you or a household member is sued for negligent acts that result in another person’s accidental injury or in property damage.

Coverage F

Medical payments to non-household members injured on your property.

This is a list of the types of risks, or perils, from which a typical homeowner’s policy protects your home:

  • Theft
  • Fire
  • Lightening
  • Hail
  • Explosions
  • Falling Objects

In fact, an HO-3 policy covers your house on an “all-risk” basis – only causes of loss specifically itemized in the policy are excluded.

It is important to note that damage caused by floods and earthquakes are two examples of natural disasters that are not covered under a typical policy. However, policies and endorsements are available for both.

Keep in mind that home insurance typically does not cover the land your home sits on – so estimating the cost of your home should exclude the cost of the land.

While many home insurance policies start out with the same basic coverage, it is important to tailor your insurance to your particular needs. Whether you wish to increase your personal liability insurance, your home has a high market value, or you have valuables that basic policies won’t protect – Ellis Insurance will help you find the best policy and fill in the gaps to provide for your ultimate peace of mind. Contact us today for more information.