WHAT EXACTLY COVERS UNDER HOME INSURANCE?

• Depends on which package your broker or insurance company makes for you suitable to your Home and owner insurance history but the main ones are: Owner Liability, Building, Personal Contents, Additional Livening Expenses, Detach structure, and additional endorsements such as Water Damage. Now we explain briefly each on of them here. 
• Liability coverage covers liability of owner toward the loss of 3rd party. For example, if in windstorm your kid’s backyard playground damages to your neighbour’s property like glass breakage you are responsible. Liability also covers bodily injury of 3rd party. For example, in Winter season if you don’t clean your property snow and ice and somehow someone other than homeowner and household gets injured you are responsible. The limit depends on your policy but normally it would be $ 1,000,000 but we recommend $2,000,000 in case of where you live or how big is the size of your home is. 
• Building or Dwelling is the structure of your home. Your insurance broker with special computer software based on your size, and some other factors assess how much insurance you need for your building. Fire, damage by theft, water damage, smokes are some of cause of damage to your building which your policy will cover. Please, keep in mind that depends on your policy package there are some policies which covers more. For instance, All-Risk policy is the most comprehensive package which covers many incidents whereas named-perils only covers 13 coverages. We will talk about that later in different blogs. 
• Additional Living Expenses are necessary out of pocket expenses when your home is not safe for you to live after claim and insurance company covers your additional costs for you to live in temporary location until your home gets backs to normal. For example, if you rent a temporary place during your claim and you can not live with your pet, insurance company will help your cost of pet day care. 
• Personal Properties are your day to day living properties which you have such as your furniture, TV, Kitchen staffs, electronics, clothes, and carpets. Personal property limit is 75% and in some cases are 50% of your Building value. For instance, the limit for personal property of building with $1,000,000 limit is $750,000. This means you can put the claim for your personal properties up to limit of your policy when your home burns to the ground. 
• Detach Structures are sheds or any other detach structures which are in your property or land but not attach to your properties. Your little storage in your backyard has value and it needs to be covered in case of Fire or any other incidents. 
• Other endorsements are coverages which a normal policy doesn’t cover but we as broker attach them to your policy for some additional important coverage. For example, sewer back up is an endorsement which we attach it to our clients policies always. We will talk about it later in details. 

CONTACT SHAWN SHIRDARREH TEAM INSURANCE TO FIND OUT THE BEST PROPERTY PACKAGE TAILOR TO YOUR NEEDS