Home Insurance

Your home may be the biggest investment you ever make in your life, and you want to protect it from calamity. The right home insurance is essential to provide peace of mind if you should suffer a catastrophe like flooding, tornadoes or severe wind damage. You should understand what home insurance covers, so you know how much coverage you need.

One of the most important parts of your policy covers the home and any attached garages and patios or decks. If a storm comes through and causes damage to the roof, windows or other areas of your house, your insurance policy will cover the repairs based on the amount of dwelling protection you have in place.

You may also choose to add Other Dwelling Protection which will cover outlying buildings such as a detached garage, pool house or shed. You will want to determine the replacement cost for your home or other buildings to determine how much coverage you should purchase. Remember that the cost for replacing a building will increase as both materials and labor goes up. Your Iowa home insurance company can help you determine how much coverage you need.

If someone should get hurt on your property, you may be held responsible. Your home insurance policy will pay for medical care and other expenses associated with the injury if you carry enough coverage. There are numerous instances where someone could hold you liable for their injury. Some of the most common scenarios include:

• Slip and fall
• Dog bite
• Fall from a trampoline or out of a tree
• Drowning in a pool

You want to ensure you have enough coverage for an incident. If the situation maxes out your policy, you’ll be personally responsible for any other expenses. It’s important to carry enough liability coverage, especially if you have high-risk items on your property.

Dwelling coverage takes care of the building itself. Personal property coverage pays for damages to the items inside the home. This includes furniture, appliances, clothing, electronics and other items. If your home is damaged, you can add up the damage to your personal belongings and the claim will pay for replacement.

If you have more expensive items, such as jewelry, you may want to take out a rider on your policy for those specific items. Policyholders have a tendency to underestimate the amount of coverage they need unless they take inventory and list everything.

You can also purchase special coverage for your home insurance policy for anything not covered in your main policy. For instance, many policies won’t cover damage from flooding unless you purchase special flooding insurance. The same may be true of earthquake insurance.

Read your policy or ask your home insurance provider about what is covered. Find out if you need extra coverage for special catastrophes. It’s important to make sure you have the right kind and amount of insurance coverage before you need to use it.