In the event of an accident or an environmental disaster on your property, homeowners insurance in Lisbon can protect your finances. And while it typically includes property insurance and liability coverage, damages to your home due to war, termites, or floods are typically not covered with standard policies.
Why Do You Need Homeowners Insurance in Lisbon?
There are a couple of main reasons you need homeowners insurance. The first is to protect your property and the belongings inside it, and second, you won’t be able to get a mortgage without some type of homeowners insurance coverage.
What Does Homeowners Insurance Cover?
Damage to the home: If you have homeowners insurance, the most fundamental protection is for damage to the physical structure of the home. For instance, even if your home was declared a total loss, homeowners insurance in Lisbon is designed to cover the cost of returning your property value back to where it was prior to the damage.
Damage to other structures: Other items on your property, including garages and sheds, are typically covered even if they are freestanding.
Personal property: This coverage may be part of your homeowner’s insurance policy. If something is damaged or stolen as a result of a disaster, this coverage helps to replace the item.
Liability: If a tree from your property falls on a neighbor’s roof, or someone slips on your property and injures themselves, homeowners insurance helps cover that claim for any necessary repairs or medical expenses.
4 Things Your Homeowners Insurance Policy Covers That You May Not Know
Losses Due To Pet Bites: The liability coverage through your homeowner’s insurance policy may offer dog-bite protection for no extra cost.
The Cost To Bring Your Home Back Up To Code: For example, if a fire caused by grease ruins your kitchen and the fire extends to other parts of your home, your insurance policy may cover any new obligations on top of the damages caused by the fire.
Damage Resulting From Power Outages: If there is a power outage and you have to empty your refrigerator because the food has spoiled, your homeowner’s insurance policies in Boardman may cover the cost for you to restock it.
Family Members Who Are Away From Home: For example, if you have a child who is a full-time student, when they move away from home, the liability and personal property coverage included in your homeowner’s insurance policies in Lisbon go along with them.
Being aware of all the protections your homeowner’s insurance in Lisbon provide can be the difference between panic and relief in the event of a home-related catastrophe. Contact us today to get a clear understanding of what protections your current policy offers and what extra coverage you can get.