home insurance
Home Insurance
Home insurance is a type of policy purchased but you buy a home. It covers properties in cases of fire, weather disasters, theft, and other personal liability. It is fundamental to the protection of personal property. As the scope of compensation is broad, the choice of coverage and compensation limits are also diverse.
Types of Coverage
Dwelling coverage is in place to compensate for the cost of rebuilding or repairing a house due to fires or natural disasters. When a claim due to a fire or natural disaster is made, the insurance company builds a new house instead of paying out the price of the house. This is why it is essential to make sure that the dwelling coverage amount is enough to cover the cost of building a new house of a similar type.
When a disaster strikes and your home is damaged, the cost to repurchase everything you owned at once would be too high. However, home insurance offers coverage that helps with these kinds of situations. Personal property coverage protects the items inside your home. When you are filing a claim, it will be very difficult to remember every item, from small spoons to large furniture. Receiving 100% compensation will be very difficult, but a homeowner could prepare documents to be ready for such situations. For example, take pictures of every corner of the house and store them in a safe place.
Protecting our homes and property is important but the most important coverage is Liability coverage. If the owner of the house causes harm to another person due to negligence and a lawsuit is filed against the homeowner, the liability coverage does into effect. In order to receive this compensation, several conditions must be met and the applied amount is based on the limit agreed upon when the insurance was purchased.
The insurance company will pay for your home and property damaged due to disasters, but you will still need to find somewhere to live temporarily. Generally, temporary housing is either a hotel or motel but in some cases, a furnished apartment. You can be compensated the total rent, but you should always confirm with your insurance carrier as there are some carriers that will not fully cover all expenses.
Liability coverage is only applied when the homeowner is at fault. Medical Payment coverage can be applied to any accident that occurs in the home regardless of the homeowner’s responsibility. Typically, the limit for this coverage ranges from $1,000 to $5,000
The water backup coverage is in place in case of water damage to furniture or carpets caused by clogged sewers, failure to the sump pump, or a backed up drain.
There is coverage for special items such as jewelry, money, mink coats, computers, etc… to a certain extent.
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Address
3030 W Olympic Blvd # 212,
Los Angeles, CA 90006
Call Us
(213) 365-1355
Business Hour
Mon ~ Fri : 9am ~ 5pm