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What are the basic coverages provided to me with a home insurance policy?

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What are the basic coverages provided to me with a home insurance policy?

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Homeowners insurance is one means to protect your financial investment in your home. Homeowners insurance is designed to pay for damages to your home and its contents, and it can protect you from financial liability if someone is injured on your property. If you take the time now to understand how homeowners insurance works, you’ll be prepared to fend off financial misfortune. A basic homeowners policy covers perils, which are specifically named risks such as lightning, theft, fire, smoke, wind and explosion. With this type of policy, any risk that is not mentioned specifically in your policy is not covered. You can also purchase special policies that cover the house for all perils except those explicitly excluded by the policy, such as pet damage.

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