Homeowner’s Claims

What benefits does my homeowner’s policy provide?

 In addition to covering the damage to your home, homeowner’s policies offer more benefits. The insurance carrier will not often advertise these benefits to you after reporting your claim. They include.

Additional Living Expense Coverage

This coverage pays the amounts you spend in maintaining your status of living after a loss. Some losses render a home unlivable during repairs. This coverage is there to help in the event that you have to move out of your home.

Fair Rental Value

If the home is tenant occupied at the time of a loss, and the tenant is forced to move out due to the home’s conditions, you may be entitled to receive funds to make you whole.

Contents coverage

This coverage protects your home’s contents, anywhere they are in the world. If they are stolen or damaged by a covered cause of loss, your contents may be eligible for replacement cost coverage. Have an attorney review your policy for details.

Debris removal

If a catastrophic loss requires your home to be demolished, or portions removed from the property, this coverage assists with these charges, which can be expensive.

Ordinance & Law

This important coverage kicks in when a local ordinance or law prohibits the repair of your home or requires certain upgrades to property you once had. Building codes require certain standards to be met when repairs go forward, if your home is older, chances are you will have expensive code upgrade requirements once repairs go forward.

Coverage B

A limited amount of coverage is afforded for “other structures” on your property if they are damaged. These structures can be anything from a pool, fence, shed, barn, or detached garage. The limits of Coverage B are often low, or 10% of Coverage A Building. Therefore it is important to have special scheduled property insurance on large out buildings, barns or detached garages to avoid being underinsured in the event of a large loss.

Liability Coverage

If someone slips and falls, or is injured with connection to your home, your policy covers the costs of an attorney to defend you and pay any claims.