Many homeowners purchase a standard homeowners policy and never consider the little details in it that could help save them a lot of money. By knowing about every aspect of your homeowner's coverage, you can make legitimate claims for damages that can help a lot, especially when you are facing the aftermath of a disaster. Check out these parts of most homeowners insurance policies and learn how you can get the most for the money you spend on your premiums.
Upgrades Required by Law in Your Area
In the event your home is destroyed by a disaster, you can have the cost of mandated upgrades covered by your insurance policy if they need to be replaced. For example, if the law in your area requires homes to have sprinkler systems or carbon monoxide detectors in place, the contractor can install them during the construction of your home. For this reason, it is smart to learn more about the laws in your area if your home needs to be rebuilt after a disaster. Checking your policy to see what is covered is also important so that you can get the most out of your insurance repairs.
Policy-Covered Structures around Your Home
Some policies cover structures like outdoor sheds or garages if they are destroyed by disasters. Your policy might also cover landscape items like fencing. If you have invested a great deal of money in tour landscape, you may be able to get some of it back through your policy if the landscaping is destroyed during a disaster. Many policies will cover up to 5% for plants and up to 10% of your coverage amount for sheds or other outdoor buildings like barns.
Your College Student's Personal Property
When you send your student off to college, it is good to know their belongings are covered by insurance in the event of theft. The number of college students that lose their property to dormitory theft is great. Knowing your student's personal property is covered by your homeowner's policy is a good reassurance in case he or she is robbed. Before you send your student to college, checking your homeowner's policy for the level of coverage you have is important. Also, take the time to make a detailed list of the items your student is taking to college and remember to write down each item's value as well.
Taking the time to read through your homeowner's policy is a good idea. If you are in the middle of a disaster, the last thing you may be able to do is concentrate enough to read your policy. Discuss with your agent any questions or concerns you may have and any coverage you might want to add just in case you need additional insurance repairs in the future.