Homeowners Insurance: What You Should Know By Now

​Insurance may cover the cost of restoration or replacements if your house or possessions are destroyed in an unforeseen incident. Make sure to properly study your insurance to establish your vandalism limitations and deductibles.

Open and Named Policy: What’s The Difference?
An open peril policy protects you against all unprecedented risks, but only if they are not specifically excluded from your policy. On the other hand, a  named peril policy insures you only against the risks listed in your policy. Time to read your insurance to be sure.

Can Home Insurance Cover Vandalism?
Your protection against vandalism may be a part of your policy's residence coverage, including built-in appliances and associated structures like a deck or porch. If your house insurance policy can not cover vandalism,  you should plan ahead of time to either inquire and request a modification or establish a backup plan.

For instance, you cannot dwell in your house due to vandalism; your insurance might provide coverage for a temporary living place and related living expenses while repairs are being done.

Is the ‘Loss of Use’ Policy Useful?
Another advantage of having your property insured is that it does much more than restore broken parts of your home. Loss of use coverage, also known as additional living costs, could provide payment for accommodation, food, and travel expenses if you are forced to leave your home due to a covered occurrence.

Conclusion
Each house insurance policy has a coverage limit normally determined and discussed at the initial purchase. Take note you can opt to modify the coverage based on your needs. Insurance companies can only cover a risk stated in your policy (for example, vandalism) up to the amount of coverage you ordered.

Purchase enough property coverage to aid you in the expenses of completely rebuilding your house. Depending on your house insurance and policy terms, vandalism coverage limitations may be a percentage of your entire coverage limit.

At Auto Express Insurance, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (832) 232-4655 or Click Here to request a free quote. Topics and coverage discussed in this article are not guaranteed, consult with your agents to determine what your policy does and does not cover. We are more than happy to help!