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A homeowner’s insurance policy is designed to protect the average homeowner against the property and liability exposure that results from homeownership.
All Insurance companies place sub-limits of coverage on particular items. Below is an industry average of what is included in your policy. These limits vary from company to company. If you feel you need additional coverage, most of these limits are available to increase.
- Jewelry – $1,500 for theft coverage only. You can add coverage for lost, misplaced jewelry and stones that fall out.
- Firearms – Your personal weapons arsenal is covered for $2,500 on most policies.
- Business Personal Property – $2,500 on premises, $500 off premises if it’s stolen
- Identity Theft – Generally not included. This coverage provides coverage for up to $20,000 for expenses you incur as a result of someone who has used your identity for unlawful activities.
- Back up of Sewer & Drain – This is water damage done from sewage lines to back up into your home through the drain pipe. This coverage is not generally included in most policies.
- Ordinance or Law – Coverage for increased costs due to building code changes regulating the construction, repair or demolition of your property due to damage from a covered loss.
- Mortgage Extra Expense – Coverage for increased monthly mortgage costs due to a covered loss.
- Personal Umbrella Coverage – An option that increases your limit for covered injuries to others, up to $5,000,000.
- Flood – Flood Insurance is NOT included on most homeowners insurance policies. A flood insurance policy has a 30 day wait period from the day you purchase until it goes into effect. So, don’t wait unit a flood is imminent to buy a policy.
- Earthquake – Earthquake Insurance is automatically excluded from all homeowners policies. Your insurance carrier will offer you Earthquake coverage every other year your policy renews. But, you can obtain a separate policy at any time.
If you would like your policy reviewed or have any questions or concerns regarding any of these coverages, please give me a call (559) 940-7256
– Sara