Homeowner's insurance provides financial protection for private homes in the event of theft, accidents, or disasters. It covers costs to repair or rebuild a home damaged by events like fires, storms, or explosions. Personal possessions inside or on the insured property are also covered if damaged, destroyed, or stolen. The policy offers liability protection if family members or pets injure others or damage their property. It also covers additional living expenses if a home becomes uninhabitable during repairs from an insured event.

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Things To Know About Homeowner’s Insurance
Homeowners insurance is a kind of property insurance which covers
private homes. It provides financial protection in the instance of a
theft, accident, or disaster that involves your residence.
Structural damage
It’s one of the main differences with homeowners versus renter’s
insurance. In the instance that your house suffers damage from
vandalism, theft, or is destroyed by disasters like windstorms, fire,
lightning, hail, or explosions, homeowner’s insurance will cover the
expenses of rebuilding or repairing it.
The mortgage lender may refer to this as hazard insurance, yet do not let that trip you
up. It is just part of the homeowner’s policy.
Personal possessions
Personal possessions that are destroyed by an included disaster on your policy,
damaged, or stolen are usually covered.
Your coverage level for personal possessions generally will be a percentage of your
property’s insured value. Therefore, if your house is insured up to $100,000, and
personal possession coverage amount was 50% of this, the limitation would be
$50,000. The percentage used varies from one policy to another.
The homeowner’s insurance policy also will cover possessions that are not inside your
house but included on your property: shrubs, trees, patio furniture, BBQ grills, etc.
In a standard policy, high-value belongings, like furs, jewelry, antiques, and artwork
usually are covered. There are assigned dollar limitations; therefore, you will need to
read all of the fine print.
Liability protection
Such protection covers suits against bodily injury or property damage family members,
you, or pets might cause to others. Liability protection covers all court expenses and all
awards you might need to pay in court.
ALE (Additional living expenses)
Let us say that your house burns down, and it now is uninhabitable. While the house is
being rebuilt, you will have to live somewhere else for a brief time. ALE covers all living
away from home expenses and eases the stress of being uprooted temporarily. Those

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costs might include meals at restaurants, lodging, storage charges, and other expenses
incurred while your house is being rebuilt.
For more information about our homeowner’s insurance Steely and Smith Insurance
today!
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Steely & Smith Insurance
3662 Route 202
Doylestown, PA 18902
(215) 345-9410
http://steelyandsmith.com
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