Home and Property insurance comes in different packages. Before you make the final decision about the insurance you are going to buy, it is advisable that you know and understand what the policies are covering. Some of the standardized home insurance policies include the following:
- Home Insurance
The inclusion of this facility in the policy means that the physical structure of your home is protected through the insurance. From roofs, floors to walls and from doors to windows, are all included.
- Other constructions
This type of insurance policy protects any other building, structure or any other construction present in the property but not a part of the home.
- Personal Property
Property insurance covers all your personal belongings like television set, sofa sets, kitchen appliances, bicycles etc. The insurance will help you make a replacement if they are damaged or stolen.
- Liability Protection
If you are sued because of claims made against you or any injury or damage caused to a person on your property, then this type of an insurance policy will keep you protected.
- Medical Protection for Guest
This type of policy coverage will take care of any medical expenses related to any injury or accident which has occurred on your property.
- Additional Protection
This type of policy comes in handy when your home is uninhabitable due to any damage or accident and you have to stay in a hotel. The insurance will pay for your extra expenses like the hotel rent.
More Options, Better Protection
The standard insurance policies come with the aforementioned ways of protection. Some even have additional options which you can opt for, in order to keep your home, belongings and family members protected. One such optional coverage is identity restoration coverage. This type of protection is useful when you face a situation of identity theft.
Some options are added to the one you buy, while some can be bought separately. Policies like protection of your home against natural calamities like flood does not come included or as an addition to your policy. You may have to buy one such as flood insurance.
The kind of policy you buy to protect your home and your property depends on the type of protection you need. There are several kind of policies available, while many even come with options like buying additional policies. To get the best deal you may want to take help from an agent or do the research by yourself online.
Also, you can check out the tips for hiring an insurance company.
Image credit: ciinsurance.ca