Understanding Insurance Issues

4 Types of Coverage to Add to Your Standard Homeowner's Insurance

Due to the value of your house, protecting it with an insurance policy can be among the most essential things that you do to protect yourself against sudden financial losses stemming from property damage. Yet, there are many problems that a standard homeowner's insurance policy will not cover, but there may be addendums that you can purchase to enhance the coverage your policy provides.

Earth Movement Coverage

For those that live in seismically active areas, earthquakes and landslides can be a threat that may strike your home at any time. When these natural disasters arise, they can quickly cause severe damage to your property. Sadly, there are many policies that may not cover these events. While you may think that the odds of these incidents occurring are low enough to justify going without this type of insurance coverage. Yet, a single incident can cause far more damage than the cost of these policies, which can make them a sensible investment.

Sewer Line Protection

The sewer line is a critical component of the home's plumbing system. When this part of the system starts to suffer problems, it could prevent the water from being able to leave your home or it may cause the yard to flood. Repairs to this part of the plumbing will be extremely expensive, and delays to this repair could allow the damages to greatly worse.

Flood Coverage

Flood damage is another problem that may contribute to major structural issues and unsanitary conditions. Water damage that stems from flooding will require a policy specifically designed for flooding. Depending on the location of your home, you can assume there is no need to buy this type of policy, but flash flooding can strike anywhere is sufficient amounts of rainfall. If you find that you are having difficulty affording flood coverage, there are government programs that may subsidize this insurance coverage for you. While you will still have to pay monthly premiums, they will be much lower than they otherwise would be.

Personal Injury Coverage

Accidents can occur anywhere, and if someone suffers injuries while they are on your property, you can be responsible for covering the medical expenses that were incurred. Without personal injury coverage, your insurance will be unlikely to cover all of these costs. When this is the case, you may find yourself facing stressful lawsuits. When choosing a coverage amount for this policy, you should opt for the most that you can comfortably afford as medical expenses for even minor injuries can be shockingly high.

To learn more about your insurance options, visit resources like http://www.statefundhomeinsurance.com.