What does my home policy cover?

Your Miami, FL home deserves the best protection it can have which means adequate home insurance. Most policies start with four basic coverages included. From there, the homeowner works with B & G Insurance to customize the policy, adding things like wind coverage or adding to the basic coverages.

The standard home policy covers property damages, liability, other structures, and additional living expenses. You can add coverage to every type of coverage except the living expenses.

The property damage portion of the policy covers damage to the house itself and its contents. This includes the personal property of those visiting your home when a named peril occurs. A named-peril means an event specifically named in the policy document such as fire, tornado, snowstorm, lightning strike, etc. The amount of this varies depending on your home. The value of your current home is covered by this portion of the policy.

The liability portion pays for the medical costs of individuals accidentally injured on your property as well as the court costs, attorney fees, and settlement from a lawsuit brought by an individual who was injured or their family. In cases of accidental death, it would pay funeral costs. It also covers the settlement costs if you libel someone. The standard policy level depends on your insurer, but you can add to it. Half a million to a million dollars of coverage is not excessive.

The other structures coverage typically equals about 10 percent of the value of the home. You can add to this though if needed. The structures covered include any standing structures on the property detached from the home. That means your garage, shed, workshop, driveway, fences, walkways, retaining wall, swimming pool, decks, patios, lanai, etc. If it attaches to the home, property damage covers it; if it is detached from the home, other structures cover it.

B & G Insurance can help you obtain the home insurance you need for your Miami, FL home. Call us or email us today to learn more about how you can customize your standard home insurance to your needs.