Understanding Insurance Claims

4 Features To Look For When Shopping For A New Homeowner's Insurance Policy

Are you in need of a new homeowner's insurance policy? Here are a few features to look for while you're comparing your options:

Additional Structure Coverage

If you have something like a storage shed, an artist studio, or a guest room on your property that is not attached to your main house, it's a good idea to make sure that the homeowner's insurance policy you decide to invest in offers additional structure coverage. If your property is flooded or engulfed in a fire, those additional structures should be financially covered just like your main house is. You may not be able to get compensation for any items that are stored in the additional structures, but you should be able to get compensation for repairing or rebuilding those structures as necessary.

Temporary Living Coverage

You may find yourself having to make alternative accommodations while your home is being repaired after a disaster like an earthquake or fire, in which case you shouldn't have to pay for those accommodations yourself if you have a quality homeowner's insurance policy in place. When comparing prospective insurance policies, pay attention to the temporary living coverage options. Some policies may offer no coverage at all, while others will pay almost all of your temporary living expenses as long as you meet your deductible.

Customizable Add-on Options

To ensure that all of your specific needs and expectations are met in the coming years, it's important to make sure that your homeowner's insurance policy offers customizable add-on options. You might collect fine art and want to ensure that it's covered with a special plan, or maybe you're worried about what will happen to your home business if your office is flooded, so you want extra flood insurance for that particular room. Whatever your special needs are, your insurance policy should be able to meet them by giving you the option of paying for various customizable add-ons.

Minimal Special Limits

While you can expect every homeowner's insurance policy you look into to have some coverage limits, there is no reason that you should have to wade through pages of limits to determine whether you can file a claim after a disaster strikes. Any limits that are placed on your homeowner's insurance policy should be easy to understand and remember. And the limits shouldn't change depending on the type of disaster or situation that arises. They should be set in stone and apply to any type of claim you need to make at any point in the future.

Contact an insurance agency to learn more about home insurance coverage.