Tag: Am I Covered
What is Dwelling Coverage? If you’re a homeowner, you’re going to need to buy homeowner’s insurance. That’s just good financial sense. However, the homeowner’s policy can be confusing if you don’t understand all the terms. To help you build your insurance vocabulary and understanding, let’s help you understand one of the most critical components of your homeowner’s policy: dwelling coverage. It’s...
Is Fire Damage Covered by Home Insurance?
Is Fire Damage Covered by Home Insurance? As a homeowner, protecting your investment is crucial. After all, your home is likely the most expensive asset you own. That’s why homeowners insurance is so essential. It provides peace of mind against unforeseen events, like falling trees or water damage. But does home insurance cover fire damage?
It’s a question that’s important to...
What is Personal Property Coverage?
What is Personal Property Coverage? We all have personal belongings that we cherish – whether it’s your grandmother’s wedding ring, your new TV, or your favorite pair of shoes. But have you ever thought about what would happen if these items were stolen, damaged, or lost? That’s where personal property coverage comes in.
Let’s dive into the world of personal property coverage,...
Does Motorcycle Insurance Cover Other Riders?
Does Motorcycle Insurance Cover Other Riders? Riders love the feeling of freedom that comes with hitting the open road on a motorcycle. But let’s face it, accidents can happen to even the most experienced of riders. That’s why having motorcycle insurance is so important. But have you ever wondered if your motorcycle insurance covers other riders? You’re not alone. This is a common...
Does Home Insurance Cover Falling Trees?
Does Home Insurance Cover Falling Trees? This may seem obvious to some, but others have posed good questions asking, “Does home insurance cover falling trees? The simple answer is, yes. Homeowners insurance can cover damage caused to your home or the other structures on your property caused by falling trees or branches.
In fact, home insurance can cover damage caused by trees that fall from...
What is a Property Deductible?
What is a Property Deductible? When you buy insurance the deductible is the portion of a loss that you will pay. So, when you purchase renters or home insurance, your property deductible is that portion of a claim that you pay to help repair your home or replace damaged or stolen property. For example, if you have a $1,000 property deductible and there is a $5,000 claim for damage —you would pay...
What are perils and hazards?
What are the Perils and Hazards in Home Insurance? We insurance nerds deal with perils and hazards daily. But to the average consumer, perils and hazards may be foreign or abstract terms. What are they referring to? Well, a “peril” is an event or circumstance that results in property damage. Your homeowner’s insurance, condo, or renters policy contain a list of perils that are...
Does Home Insurance Cover Water Damage?
Does Home Insurance Cover Water Damage? The obvious answer to this question should be a simple yes, but it actually “depends.” The way your home insurance policy protects you from water damage is complicated and depends on the situation and source of the water.
Under the average home policy, if the damage caused by water is considered sudden, accidental, and comes from inside your...
Flood Insurance Basics
Understanding the Basics of a Flood Insurance Policy Your home insurance policy doesn’t cover water damage when it’s caused by a flood. In fact, it will likely have a specific exclusion for this type of damage. This means, if you live in a designated flood zone, you’ll want to purchase a separate flood insurance policy. This can be done through the federal flood program or a...
What is Personal Liability Coverage?
What is Personal Liability Coverage? Every home insurance policy includes personal liability coverage. It’s the coverage that is designed to protect you financially if you’re determined to be responsible for damages or injuries to other people. If you have a family, personal liability also extends to household members. This means, if your teenager accidentally damages your neighbor’s...