Hazard insurance reimburses you and your loan company for damage to your property as a result of fire and smoke, hail, strong winds, lightning storms, explosions, volcanoes, riots and vandalism, theft, water damage, and other similar Acts of God. If a tree crashes into your roof during a wind storm or a thief breaks into your car to steal your stereo, your insurance will replace or repair the damage. Some policies even cover theft of belongings transported outside of your home such as in the car or at school.
The heart of your homeowner's insurance covers damage to your house and everything associated with it. But the basic coverage isn't adequate to give you full protection. You'll be given the option to purchase additional coverage for:
1) Accompanying structures in addition to your home such as the garage, work shed, pool, extra guest unit, and other appurtenances connected to the land such as concrete walls, asphalt driveways, sidewalks, and chain link fences.
2) Personal belongings like your clothing, unique art, authentic jewelry, rare coin collections, and high definition TV, up to a stipulated replacement value.
3) Home business property such as computers, workstations, and copiers. Business inventories can also be protected in a policy.
4) Loss of use-Coverage is provided for your daily necessities such as rent, motel stay, and meals, less the amount you would spend on daily necessities, while your house is being renovated after suffering a loss.
5) Landscaping like your fruit trees, perennials, evergreen bushes, and water fountains.
Even though you're not obligated to purchase the above coverage, you'll probably need to purchase the whole package to get the best protection for your home.
When you first inspect a hazard insurance policy it may appear to be pretty thorough. But as you read through the fine details including the exclusions clause, you'll quickly discover situations that won't be insured such as water flooding, earthquakes, mud slides, police action, electrical outages, sewer issues, and several other damages are not covered. Insurance companies are wary to ensure these high loss property damages. But don't give up hope, with a little diligence you can locate an insurance company willing to provide protection for special circumstances such as flooding and earthquakes. It's in your best interest to purchase additional coverage for precarious situations that can cause serious damage and have a high likelihood of occurring such as an earthquake in particular areas of California.
The heart of your homeowner's insurance covers damage to your house and everything associated with it. But the basic coverage isn't adequate to give you full protection. You'll be given the option to purchase additional coverage for:
1) Accompanying structures in addition to your home such as the garage, work shed, pool, extra guest unit, and other appurtenances connected to the land such as concrete walls, asphalt driveways, sidewalks, and chain link fences.
2) Personal belongings like your clothing, unique art, authentic jewelry, rare coin collections, and high definition TV, up to a stipulated replacement value.
3) Home business property such as computers, workstations, and copiers. Business inventories can also be protected in a policy.
4) Loss of use-Coverage is provided for your daily necessities such as rent, motel stay, and meals, less the amount you would spend on daily necessities, while your house is being renovated after suffering a loss.
5) Landscaping like your fruit trees, perennials, evergreen bushes, and water fountains.
Even though you're not obligated to purchase the above coverage, you'll probably need to purchase the whole package to get the best protection for your home.
When you first inspect a hazard insurance policy it may appear to be pretty thorough. But as you read through the fine details including the exclusions clause, you'll quickly discover situations that won't be insured such as water flooding, earthquakes, mud slides, police action, electrical outages, sewer issues, and several other damages are not covered. Insurance companies are wary to ensure these high loss property damages. But don't give up hope, with a little diligence you can locate an insurance company willing to provide protection for special circumstances such as flooding and earthquakes. It's in your best interest to purchase additional coverage for precarious situations that can cause serious damage and have a high likelihood of occurring such as an earthquake in particular areas of California.
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