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Understanding Your Homeowner's Policy
A homeowner's insurance policy in Boston is a package deal. This means that it covers a variety of issues that may arise on your property from legal responsibility for any injuries that occur on your Boston property or for property damage that occurs due to the weather and natural disasters to even damage caused by pets.
Damage that is caused by natural disasters such as tornados, hail or strong winds are covered by the homeowner's policy. There are natural disaster exceptions and these include flooding and earthquakes. Flood insurance is provided by the National Flood Insurance Program provided by the U.S. government. Although, you may purchase this insurance through a Boston insurance agent. Earthquake coverage is available as an endorsement on your policy or through a separate policy. Homeowner's policies do not typically cover poor maintenance, as maintenance is a responsibility of the homeowner.
Your homeowner's policy will also cover the structure of your home as well as your personal belongings. Coverage for the structure will cover repair or rebuilding the home if it is destroyed by fire, hail, hurricanes, lightening or other disasters that may be listed on your policy. Most standard policies will also cover your other buildings, such as an unattached garage, tool shed or gazebo. Barns often require a separate policy.
In the event that you lose personal belongings in a fire or through a hurricane, tornado or other disaster, most companies will cover furniture, personal items and sports equipment. These items are also covered if they are stolen. Most companies allot 50-70% of the insurance coverage to the structure of the home. The remainder of the policy covers your personal belongings and belongings that are off-premises. These are covered anywhere in the world and it is up to the policy holder. However, the policy holder may opt out of the worldwide coverage. It is common for people to put their expensive belongings, such as their wedding jewelry, other expensive jewelry, furs and silver on their homeowner's insurance policy. You may also purchase special personal property endorsement to insure an item for its appraised value.
Additionally, landscaping such as trees and scrubs are also covered on your homeowner's policy. These usually max out at about $500 per item. Wind damage and disease is not covered on your landscaping, but disasters such as theft, fire, lightening, vandalism, riot, explosions and even falling aircraft will be covered.
There are several other options that are added to a policy to cover personal injury, but these items are often at the discretion of the homeowner. However, it may depend on who the mortgage is held with that will determine what coverage the homeowner must maintain in Boston.
