Perils in a homeowners insurance policy refer to events that cause damages to your home or personal belongings. Homeowners insurance policies usually provide a wide range of coverage for specified perils. It is best to always check for the list of perils covered by your homeowners policy before you buy it to ensure that you are adequately protected against the necessary mishaps.
The Perils Covered by Homeowners Insurance Coverage
Fire and Smoke
Most homeowners insurance policies cover the costs of repairing or replacing damages to your home or personal belongings due to a fire outbreak. They also cover damages that occur due to smoke.
Additionally, if fire or smoke renders your home unhabitable and you have to move away for a while, then the insurance policy will reimburse your living expenses. These include accommodation and dining expenses.
Windstorms and Hailstorms
Most homeowners insurance policies cover damages to your homes or belongings caused by windstorms or hailstorms. However, before you purchase a policy, review it to determine if there are exclusions. Usually, reviewing this policy will turn up with two types of coverage.
The first one of these is dwellings, i.e., the policy that protects your home and covers the cost of repairing and replacing your roof and windows, among others, in case they are caused by wind damage.
The other coverage involves your personal property. It protects against damages caused by wind or hail to your belongings. Additionally, this policy also covers rain, sleet, sand, and even snow damages.
Lightning, while an incredible natural phenomenon, is damaging when it hits home. It is one of the most common causes of a house fire. Also, it is a major cause of damage to home appliances, electronics, wiring, and electric shock in humans.
Fortunately, home insurance policies cover damages caused by lightning. It also covers damages resulting from power surges during lightning strikes.
Another peril the homeowners insurance policy covers are theft. If you are the victim of a home robbery, this policy will replace your stolen properties. It will also cover the repair or replacement of damaged items in the home, like broken windows. The best thing about it is that it will replace or repair these items with others of equivalent quality.
Apart from the perils mentioned above, the homeowner’s insurance policy also covers the following:
- Vandalism and malicious mischief
- Damage resulting from a vehicle, car, or an aircraft
- Falling objects
- Weight of ice, snow, or sleet
- Water damage
Despite the multitude of perils it covers, the homeowner’s insurance doesn’t cover all of them. For instance, most homeowners policies do not provide protection against:
- Flood damage
- A pest infestation, and many more
To learn more about the different perils homeowners policies cover and to get the adequate coverage necessary for your home, contact us at Family Financial Insurance Group. We can help you get started on the right policy.