What Does Homeowners Insurance Cover?

If you’re buying your first home, your mortgage lender has probably informed you that you need to buy home insurance in CT. What exactly does this insurance cover? It depends on what policy you decide to purchase, but you may be surprised at the options that are available. Rather than going for the bare minimum required by your lender, ask your insurance agent about the following options for a policy that fully protects your interests.

Rebuilding Your Home

In the event of a natural disaster, insurance will pay to repair or rebuild your home. Before you buy, make sure you know exactly which disasters are covered and which aren’t. It isn’t unusual to pay for flood insurance separately. Also good to ask how much the deductible is for each, so you can manage your personal savings to ensure you’re prepared.

Loss of Your Property

Home insurance in CT can also cover the cost of your possessions in the even they are destroyed or stolen. If you own any high-value items, like fine jewelry or art work, you may have to insure these separately. However, furniture, appliances and more can usually be covered.

Liability Claims

Homeowners insurance can also help if you are held liable for accidents on your property. Especially if you own a swimming pool or have a dog, you should talk to your insurance agent to see what your options are. In the event an accident occurs, you’ll be glad you planned ahead.