Homeowners Insurance at a Glance

At first glance, homeowners insurance may seem perplexing and quite overpowering. Understanding your policy is crucial to know what you are actually purchasing, and also an extremely important part of owning a home. A homeowners insurance policy provides financial security against disasters, as well as insures the home and the possessions kept within.

A basic homeowners insurance plan consists of four major types of coverage. These include: Home structure, coverage for personal belongings, liability protection, and living expenses in the event you cannot reside in your home as a result of an insured disaster.

Earthquakes and floods are not covered by standard insurance plans. To insure your home against these natural disasters, you will need to purchase a separate insurance policy. However, here is a list of catastrophes that are covered by homeowners insurance: fire, lightening, theft, vandalism, overflow of water from plumbing, just to name a few. You need to think ahead when purchasing homeowners insurance. When assessing the amount of coverage you should buy, think about how much it would cost to reconstruct your home if it were completely demolished.

All of your personal belonging are covered if they are stolen or ruined by an insured disaster. A majority of insurance companies will offer coverage for 50% to 70% of the sum of insurance you have placed on your home. Between $1,000 to $2,000 is allotted for expensive items such as furs and jewelry. Up to $500 coverage is also allowed for unauthorized use of credit cards.

Liability protection shields you against legal action for bodily harm or estate damage that was caused by you or family members. This part of the policy pays the expense of your defense in a court of law, and is supported throughout the world.

If you are unable to live in your home due to damage from an insured disaster, most homeowners insurance policies will pay for the additional expenses such as hotel fees and restaurant tabs, while your house is being reconstructed. However, coverage for these extra costs vary with each insurance company.

Timothy Gorman is a successful webmaster and publisher of Best-Free-Insurance-Quotes.com. He provides more insurance information and offers discount home insurance, life and auto insurance that you can research in your pajamas on his website.

MORE RESOURCES:

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Morning Rounds Rising Stress Levels, Limited Health Insurance and ... - New York Times

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RAM Holdings Announces Commutation of $10.6 Billion Par MBIA ... - MarketWatch

Fabian Nunez Joins Zenith#39;s Board of Directors - MarketWatch

State issues finding in Holyoke Medical Center insurance dealings - The Republican - MassLive.com

Fairfax to buy rest of Northbridge for C$686 mln - Reuters

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/9-0fd=Rurl=http://www.reuters.com/article/mnaNewsFinancialServicesAndRealEstate/idUSN0150299520081201cid=1276516603ei=Y880SaTBDJXM8ATs3fwtusg=AFQjCNHbONynw9ZQTCy1zUEtC-JtoBAV8AFairfax to buy rest of Northbridge for C$686 mln/abrfont size=-1font color=#6f6f6fReutersnbsp;-/font nobr50 minutes ago/nobr/fontbrfont size=-1Fairfax said it expected Northbridge President and Chief Executive Mark Ram to remain in charge of the Canadian binsurance/b operations. b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/9-1fd=Rurl=http://www.marketwatch.com/news/story/Northbridge-Fairfax-Announce-Privatization-Offer/story.aspx%3Fguid%3D%257B0A513448-3272-4E3F-8D0C-251C2F23FFA7%257Dcid=1276516603ei=Y880SaTBDJXM8ATs3fwtusg=AFQjCNHjt42Z0zk3L8ySizohMhFo-FP3cwNorthbridge and Fairfax Announce Privatization Offer/a font size=-1 color=#6f6f6fnobrMarketWatch/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/9-2fd=Rurl=http://www.bloomberg.com/apps/news%3Fpid%3D20601082%26sid%3DacOweNniPPE4%26refer%3Dcanadacid=1276516603ei=Y880SaTBDJXM8ATs3fwtusg=AFQjCNFDxU0hNTbF0UQdb4Ca5dJjHZVzAwCanada Stocks Decline, Led by EnCana Corp., Financial Shares/a font size=-1 color=#6f6f6fnobrBloomberg/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/9-3fd=Rurl=http://business.theglobeandmail.com/servlet/story/RTGAM.20081201.wfairfax1201/BNStory/Business/home%3Fcid%3Dal_gam_mostemailcid=1276516603ei=Y880SaTBDJXM8ATs3fwtusg=AFQjCNHpRhV624HBTY67nDiGsn8SQnp13AFairfax to take Northbridge private/a font size=-1 color=#6f6f6fnobrGlobe and Mail/nobr/font/fontbrfont size=-1 class=pa href=http://news.google.com/news/url?sa=Tct=us/9-4fd=Rurl=http://www.tradingmarkets.com/.site/news/Stock%2520News/2058427/cid=1276516603ei=Y880SaTBDJXM8ATs3fwtusg=AFQjCNEIoEWoEOIrDpj1D0nuQE97n4KcBgnobrTrading Markets (press release)/nobr/anbsp;- a href=http://news.google.com/news/url?sa=Tct=us/9-5fd=Rurl=http://www.680news.com/news/business/more.jsp%3Fcontent%3Db1201167Acid=1276516603ei=Y880SaTBDJXM8ATs3fwtusg=AFQjCNGXvJJndayKj9-BnensAwEdrlNMpgnobr680 News/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1276516603hl=ennobrall 62 news articles/nobr/a/font/div/font/td/tr/table

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