Home Owner Insurance Policies

A home owner insurance policy is the best protection a consumer can have against sudden costly home loss or destruction which otherwise could leave a family homeless. Standard home owner insurance policies will not only cover property damage but will also cover all the things contained in a house up to a specified amount. Without coverage, an owner would need to be financially secure enough to afford immediate repair of all damage to a house, liability for all injuries that occur on the property, or any injury or damage to someone else and their property as well. Standard coverage will not provide for large scale disasters like flooding or earthquakes, although special policies for some natural disasters can be purchased separately. Claims submitted that are the result of poor maintenance will not be approved by any company---upkeep is always an owner's responsibility.

Standard coverage is designed first to provide for the structure of a house and enough to cover rebuilding if necessary. This includes coverage for both a house and any detached structures like a garage, shed, or gazebo up to a certain percentage that is designated within a plan. A home owner insurance policy also protects all personal belongings in case they are stolen or destroyed. Some insurers base this coverage on a certain percentage of perhaps 50% to 70% of a plan's value. Consumers who buy this coverage should conduct an inventory and if possible, even videotape household possessions. If some possessions are quite valuable, a separate personal policy endorsement can be purchased for that specific item. Otherwise, in an emergency such as a fire, all will be lost with no recompense to replace the true worth of an item. It is good to know that household possessions can also be covered if they are off-premises. Find out what percentage of coverage will apply if belongings are stolen or damaged on the road or during a vacation. Home owner insurance policies may or may not have a deductible.

Most companies offer liability coverage to protect owners against any lawsuits for property damage or bodily injuries that they (or anyone in their family--including pets) may inadvertently cause. A home owner insurance policy can cover consumers anywhere in the world including court defense and court awards up to the limits of the coverage. Broader coverage is available for higher limits or accusations involving libel or slander. No-fault coverage for smaller accidents if a friend or neighbor is hurt on a consumer's property is also available if it doesn't involve a liability claim. Many flood victims sometimes discover that their home owner insurance policies will pay for the additional costs of living when their homes are destroyed. Such expenses as hotel bills, restaurant meals, and even the lost income of a renter's insurance if they were renting out a portion of their house can be recovered. As the psalmist says "God is our refuge and strength, a very present help in trouble." (Psalm 46.1) Home owner insurance policies provide a small example of the greater help of the Lord to those who trust Him.


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