If you own a home and wish to ensure your home then there is very little choice but to look at the well known Geico Homeowners Insurance plans. Many people view having a homeowners insurance policy more of an add-on to their investment of their homes rather than a large part of ensuring your wealth.
Most of your wealth today is invested either in your home or in your business. The biggest investment today has and always be property. Geico ensure that if things do go wrong that your biggest investment is covered.
What Does Homeowners Insurance Protect?
There is no standard home insurance policy or insurance and anyone who says otherwise – you should not be buying from them. Insurance today mainly home insurance can be a task on its own as you are not certain what is covered. Sometimes you will get insurance coverage but certain items will not be covered.
1. Firstly damage to your house and any permanent structures on your property;
These would not cover exclusions which may be in the policy. Normally the more exclusions there are the cheaper the insurance payments will become. That is always a double end sword when it comes to covering your home with insurance. Remember as I did wear and tear is not normally covered by insurance. A water leak in your water geaser is not covered normally but an explosion will be covered. The one is an accident while the other is wear and tear.
2. Damage to your personal property due to causes specified in your policy;
This is a difficult one just as above. Some insurance policies will cover the contents of a house but not if there is civil unrest. That would be an additional payment. For many years we paid insurance for civil unrest damage and we never got to claim under it in the 20 years we had the insurance. Check what is specified in your policy before you agree and sign.
3. Covering stolen jewelry has very limited coverage also depending on your State;
Jewelry is a difficult one to cover in your home as this is where many of the insurance fraud matters start. Claiming for jewelry is also very difficult as they would want to know why it was not in a safe and 1 million and 1 questions before settlement.
See more on how to have this covered by an additional insurance policy under Homeowners Endorsements which gives you a better idea about high value items in your home. If you are looking at discounts and how to save on your homeowners insurance then check the blog for more information here. If you are looking at flood insurance then check the website for more details.