What Does a General Homeowners Insurance Policy Cover?


Homeowners Insurance - Affiliated Adjustment Group - NY

Homeowners’ coverage offers protection against losses because of theft, accidents, or natural disasters. But, general homeowners insurance basically covers four essential areas that are important to know for those looking for a general homeowners’ insurance policy or hiring a professional for an insurance claim.


Personal Belongings

Personal possessions coverage extends to goods kept off-site, so you're protected no matter where you are. Some providers cap the amount at 10% of the amount of personal property insurance you have. You're also covered up to $500 if your credit cards are used without your permission. If your furniture, clothes, sports equipment, and other personal belongings are stolen or damaged due to fire, storm, or other insured disasters, they are covered. The coverage is often 70% of the structural insurance you have on your home. A public adjuster is a way to go when it comes to residential claims or insurance loss recovery.


Structure of the House

As a rule of thumb, it is always best to have enough coverage to help you rebuild your home if need be. It is also important to note that floods, earthquakes, or normal wear and tear are not covered under typical insurance. If your house is damaged or destroyed by fire, hurricane, lightning, or other catastrophes mentioned in your policy, your homeowners’ insurance will pay to restore or rebuild it. A detached structure, like a garage or tool shed, is usually covered by most policies. Approximately 10% of the amount of insurance you have on the structure. An insurance adjuster will help you figure out the appropriate insurance claim.


Additional Living Expense

If you are renting off a portion of your home, ALE will cover the rent you would have collected from a tenant in cases where your property has been deemed non-livable. ALE also covers any additional costs that you will incur when living off your property in case your property is damaged. However, there are limitations to what additional living expense coverage covers, so it is best to speak with your insurance provider beforehand.


Liability Protection In New York

Accidents happen. However, that doesn’t mean you shouldn’t be prepared. Up to the maximum mentioned in your policy paperwork, the liability element of your insurance covers both the expense of defending you in court and any court judgments.


If a friend or neighbor gets hurt in your house, they can simply submit medical expenses to your insurance provider. Although liability limits often begin at around $100,000, it's a good idea to talk to your insurance provider about if you should obtain a higher level of protection.


Contact the team at Affiliated Adjustment Group today for more information on how we can help settle your residential insurance claim.

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