Basic Coverage of Homeowner Insurance Policies

The insurance policy is a package that includes more than 1 type of insurance in a policy. There are 4 types of coverage contained in the home insurance policy.

Included are:

Dwelling and Personal Property
Personal Liability
Medical Payments
Additional Living Expenses

In this article, Dwelling and Personal Property Damage will be explained:

Property damage coverage will help pay for any damage to your dwelling or personal property. Other parts of your home, such as a detached garage, a shed, or any other building on your property are usually covered for about 10% of the amount of coverage on your home.

Personal property coverage pays for your personal property, which includes your furniture, clothing, and other personal property.

The amount of that insurance coverage is about 50% of the policy limit on your home. This type of coverage is also limited by the type of loss specifically listed in your policy.

The coverage usually only pays the current cash value of the item damaged or destroyed, unless you actually purchased replacement cost coverage.

Your home insurance policy also includes off-premises coverage. What this means is that the policy covers your personal belongings against theft even when they are not in your dwelling.

Your insurance company will reimburse you for the cost of replacing your suitcase and whatever its content is if it were lost or stolen when you were away on vacation, but only for replacing them with the personal property of the same kind and quality.

Copyright 2005 Fern Kuhn, RN
Specializing in Diabetes

http://www.diabetestestingcenter.com
http://www.homeinsurancehelp.info
http://www.healthinsurancecenter.info

You may reprint this article as long as you keep the links active.

Latest News


Wall Street Journal

Katrina Citizens Losing Insurance Cases On Appeal
InjuryBoard.com, FL - 3 hours ago
Estimates were that up to 30000 hurricane insurance suits were filed in court in New Orleans after insurers dug in and refused to pay on Katrina, ...
A FLOOD OF QUESTIONS: Tropical Systems Fay, Gustav Spur Floridians ... Destin Log
Lloyd’s defences stand firm against hurricane onslaught Financial Times
Gustav may cost $10b in insurance Xinhua
Forbes - MarketWatch
all 649 news articles

STORM UPDATE: Insurance info; now with State Farm claims office ...
The Daily Advertiser, LA - 2 hours ago
Insurance companies are beginning to set up local contact numbers for people whose homes sustained damage from Hurricane Gustav. ...
Insurance commissioner provides updates to those with damage WBXH
Louisiana Insurance Commissioner to Visit Farmers Insurance Mobile ... MarketWatch
Insured losses for Gustav could top $1.5 billion The Times-Picayune - NOLA.com
Chicago Tribune - 2TheAdvocate
all 47 news articles

ABC News

A leaky pool
Economist, UK - Sep 4, 2008
Pooling risks—the essence of insurance—allows people and businesses to protect themselves from disaster. The insured have the incentive to buy homes or ...
The Next "Perfect Storm" Is Already Brewing in the US Sovereign Society
Bank Failures: Protect Your Cash Now ABC News
Regions Financial surges on assumption of about $900M of Integrity ... Forbes
Seeking Alpha - Atlanta Journal Constitution
all 291 news articles

Take-up slow on obstetric insurance
The Daily Yomiuri, Japan - 58 minutes ago
More than 30 percent of medical institutions and birth centers had yet to buy insurance policies for a planned system to pay compensation for problems that ...

Provocative 'Uncovered' Statues Spotlight the Uninsured as ...
MarketWatch - 6 hours ago
800000 children in California go without health insurance. That should make us all very uncomfortable. We've been vocal proponents of universal coverage ...
Blue Shield Erects Naked Statues KFBK
all 47 news articles

Meadowbrook Insurance Group, Inc. Announces the Retirement of Its ...
MarketWatch - 14 minutes ago
Mr. Segal, 79 years old, founded Meadowbrook in 1955 as Meadowbrook Insurance Agency. Under his leadership, Meadowbrook has grown from a start-up local ...

Washington Times

Lloyd's of London push into emerging markets
The Associated Press - 14 hours ago
LONDON (AP) — Lloyd's of London, the world's biggest insurance market, signaled its intention to push its business in emerging markets in Asia and Latin ...
Rio Governor's Lloyd's Dinner Keynote Speech Evinces Brazil's ... Insurance Journal
Reinsurance: bright future in Brazil Lloyd's List
all 103 news articles

Houston Chronicle

Houston Couple Charged for Insurance Fraud, Deadly House Fire
Insurance Journal, CA - 5 hours ago
A grand jury has indicted a Houston, Texas couple over a 2003 fire that killed their daughter and a boy in an alleged house insurance scheme. ...
Houston pastor's friends charged with killing his son Houston Chronicle
Couple faces murder charges after fatal house blaze KHOU
Houston woman accused of setting fatal fire turns herself in Texas Cable News
Dallas Morning News - Houston Chronicle
all 9 news articles

Questionnaire Distills Candidates' Health Policies
NPR - 5 hours ago
America, talks about the candidates' responses. by Julie Rovner McCain: He would replace the current tax-free status of health insurance coverage provided ...
Kaiser Daily Health Policy Report Feature Highlights Recent Blog ... Kaiser network.org
Consider health care reform in November Atlanticville
FROM THE LEFT Santa Ynez Valley Journal
Medical News Today (press release) - ABC News
all 7 news articles

Insurance offices go mobile
Biloxi Sun Herald,  USA - 8 hours ago
By ANITA LEE - calee@sunherald.com GULFPORT -- Thankfully, business is slow at mobile insurance-claims units set up in South Mississippi. ...
Insurance claims expected to rise Jackson Clarion Ledger
State Farm Is There for Gustav Victims While Preparing for Next Storms MarketWatch
Insurance offices go mobile Trading Markets (press release)
Jackson Clarion Ledger - Biloxi Sun Herald
all 14 news articles

Resources