Types of Homeowners Insurance Policies: Which One’s Right for You?

due to damage caused by insurable perils. This means hotel costs, meals, and other living expenses are covered while your home is being repaired or rebuilt. The amount available to pay for these expenses is usually equal to 20% of the insurance on your house. If you rent part of your home, the loss of income will be reimbursed. Policies differ company to company. Make sure you know what is covered. This part of your insurance policy is to help you maintain a “normal standard of living.”

5. Liability Protection

Liability protection provides personal liability coverage against lawsuits for bodily injuries or property damage that you or other members of the family who live in the home cause others on your property. It also covers any damage or injury your pet may cause. This part of your policy includes no-fault medical coverage so medical expenses are paid with no liability claim filed against you. The cost of defending you in court and court awards are covered, up to the limit of your policy. This coverage covers you, your family members, or your pets anywhere in the world.

Home insurance experts highly recommend that you buy at least 0,000 worth of protection. You can also buy an umbrella or excess liability policy. This kind of policy covers you for slander or libel claims. These policies cost between 0 to 0 for every million of additional coverage.

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