Homeowners' and Renters' Insurance FAQ
Whether you own a home or are renting a place, most of your worldly goods are likely kept there. Not to mention that the home itself could be your most valuable possession.
Yet property is vulnerable. Even if you do your best to maintain it, natural disasters, theft and vandalism, fires, and other sorts of damage can seriously damage or wipe out your investment—not to mention leave you without a habitable place in which to live.
That's why people turn to insurance coverage. In fact, if you took out a mortgage on your home, your lender probably required you to buy homeowners' insurance. But even without that requirement, most people find that homeowners' and renters' insurance are important protections against unexpected losses or damage.
Not all insurance policies are created equally, however. Whether you are in the process of buying insurance now, or are curious what your policy says about recent loss or damage to your property, it's important to understand both what the standard policies contain and what extra coverage you should or did purchase. Have a property insurance question? Get answers from local attorneys. It's free and easy. Ask a Lawyer Sometimes the difference between receiving coverage or not is a matter of fine print, or of researching what the most likely sources of damage are and ensuring that your policy contains a realistic amount of coverage for them. Am I required to have homeowners' insurance? What does homeowners' insurance protect against? Are all homeowners' insurance policies the same? Is replacement cost the same as the sale price of a home?
How is the replacement value of my belongings calculated by my homeowners' or renters' insurance carrier? What does my homeowners' policy pay if a neighbor slips on my property and sues? Does my homeowners' insurance policy cover damage to inventory in my small, in-home business? Does my homeowners' policy cover property my child took to his college dorm if it gets stolen or damaged? How can I tell if I'm covered for damage to my home caused by storms, bad weather, or other severe weather? Does my homeowners' insurance policy cover damage caused when a tree on my property fell on my car?
Sump pump failed after lightning struck my house: Will insurance cover flooding in basement? Is removal of a tree that fell on my roof during a thunderstorm covered by homeowners' insurance? Who pays for the rental my family is in while our house is being repaired due to damage? Is my landlord responsible for damage to my personal property if there is a fire? Is the property in my car covered for theft under my homeowners' or renters' insurance policy?
Not all insurance policies are created equally, however. Whether you are in the process of buying insurance now, or are curious what your policy says about recent loss or damage to your property, it's important to understand both what the standard policies contain and what extra coverage you should or did purchase. Have a property insurance question? Get answers from local attorneys. It's free and easy. Ask a Lawyer Sometimes the difference between receiving coverage or not is a matter of fine print, or of researching what the most likely sources of damage are and ensuring that your policy contains a realistic amount of coverage for them. Am I required to have homeowners' insurance? What does homeowners' insurance protect against? Are all homeowners' insurance policies the same? Is replacement cost the same as the sale price of a home?
How is the replacement value of my belongings calculated by my homeowners' or renters' insurance carrier? What does my homeowners' policy pay if a neighbor slips on my property and sues? Does my homeowners' insurance policy cover damage to inventory in my small, in-home business? Does my homeowners' policy cover property my child took to his college dorm if it gets stolen or damaged? How can I tell if I'm covered for damage to my home caused by storms, bad weather, or other severe weather? Does my homeowners' insurance policy cover damage caused when a tree on my property fell on my car?
Sump pump failed after lightning struck my house: Will insurance cover flooding in basement? Is removal of a tree that fell on my roof during a thunderstorm covered by homeowners' insurance? Who pays for the rental my family is in while our house is being repaired due to damage? Is my landlord responsible for damage to my personal property if there is a fire? Is the property in my car covered for theft under my homeowners' or renters' insurance policy?
Post a Comment