There Is Also A Wide Range Of Additional Coverage That Could Be Contracted According To The Specific Needs Of The Client

Category: Finance, Insurance.

At the time of getting insurance for a real estate property, there are many options and some people tend to get lost and start reviewing all their needs. This kind of insurance is a package policy, which means that it combines more than one type of insurance coverage in only one policy.

Since one of the largest investments done by any person is almost always the purchase of a house, it is very important to protect the property and the goods contained within, and to do this, the homeonwer must get homeowners insurance. The four types of coverage included in the homeowners document are for the property, medical expenses and, personal liability living expenses. Some of them are the trees and plants. There is also a wide range of additional coverage that could be contracted according to the specific needs of the client. The coverage of damage to the property helps to pay for the disaster caused in the housing as well as the personal property damaged, and will also include furniture, clothes and other personal belongings. In regards to the personal liability coverage, this will be applied to any accidents which occur inside and outside the house, or if the damaged caused is done by the policyholder or his family.

Besides, if there is an interest to insure any specific valued products like jewels, it is needed to add a special policy to the homeowners one. The insurance will cover all the costs related to the defense of the owner, as well as all the damage charges. It includes the medical payments in relation to the injured for the term of a year approximately. Besides, in relation to the coverage of medical expenses, it is possible to be indemnified if anyone happens to be insured at their own housing. It is important to remark that this coverage can only be applied for persons that are not family, and there is a limit for each person. Some common exclusions in the policies are the coverage for losses of animals, as well as for damage to vehicles( in this particular case, those expenses should be covered by the auto insurance) .

In case that a homeowner has to move to a hotel or an apartment temporarily because of the damages caused by an accident covered by the policy, the insurance company will cover all the living expenses, generally for 20% of the total limit of the insurance. However, any damages caused as a result of war, earth movement or, neglect any other catastrophy is not covered.