Disasters can occur in your home at any time causing damages and loss of property. Without homeowners insurance to take care of the expenses related to replacements or repairs, you can lose hundreds or even thousands of dollars overnight.

Legally, you’re not required by law to take up this policy in Virginia but mortgage companies won’t offer a home loan when you choose not to get it. Many require that you buy a policy that at least covers everything you own on your property. Once you start paying your premiums, insurance providers like Insurance Smith Agency LLC will protect you by taking up the cost of loses due to injuries, death or damages caused by a covered risk.

What will the policy cover?

This policy covers four main things: personal liability, your home’s structure, personal belongings, and additional living expenses.

Structure of the house

When your home is damaged or destroyed due to a tornado, hurricane, fire, or other human or natural disasters included in your policy, the insurance company will offer compensation to help you repair or rebuild the house. Any damage caused by earthquake or flood isn’t covered and the policy must be bought separately in addition to the basic homeowner’s plan.

Personal liability

If any of your family members causes injuries to someone else or damages their property, he/she will be covered by your insurer. The policy can cover medical expenses or legal fees.

Personal belongings

Anything that is destroyed or damaged in your home by an insured disaster will be compensated by your insurer. However, sometimes you may not be given the entire value of the item depending on your insurer or the cause of the damage.

Other living expenses

It covers expenses you incur in case you are forced to live away from your home when it’s damaged by a covered disaster. It includes restaurant meals, hotel costs, and other expenses you may incur while your home is being rebuilt or repaired.

If you need a reliable home insurance policy, contact Insurance Smith Agency LLC, Virginia for more information.