Types Of Coverage You May Want From Your Homeowner’s Policy

Insurance can help to cover you in the event that your home experiences any number of problems or damages. Unfortunately, not all insurance policies will provide the same standards of coverage, and there may be some types of protection that you will need to add to your current policy.

Rental Costs

In the event that the house is severely damaged or destroyed, you and your family may need to vacate it until it is repaired or rebuilt. Hotel and rental costs can be substantial in these situations, and you may find it difficult to pay these expenses. It is possible to purchase insurance coverage that will pay for these rental costs. There will be limits to the amount of rental coverage these policies provide, but it can prove extremely helpful in these situations.

Liability Protection

There is always a risk that guests visiting your property will be injured in accidents. These incidents can leave you liable for a variety of potential damages and expenses. Many individuals are unaware that their homeowner's insurance policy can provide liability protection for these situations. When choosing this type of coverage, make sure that you have a policy specifically for medical costs. These costs are often extremely high, and standard liability policy limits will often be ill-suited for this type of claim.


Having a criminal enter your home and steal your possessions can be a traumatic experience for your family. In addition to the emotional damage, you may also suffer extensive financial losses as a result of these thefts. Homeowner's insurance from a company like Bishop Insurance Agency will be able to provide you compensation for the items that were stolen. The amount of compensation will depend on whether your policy provides actual or replacement value coverage. Also, you should be aware that filing a theft claim will often require a copy of a police report and an inventory of the items that were taken.

Coverage for Environmental Risks

There are a variety of environmental risks that your property will have to face. Flooding is a perfect example of this type of threat as it can occur almost anywhere, and many base insurance policies will not provide any coverage for flood damage. Earthquakes and landslides can be other examples of environmental hazards that may not be covered by your current policy. Closely reviewing the potential threats to your property will help you with identifying the types of coverage that you should purchase. Luckily, most areas will have climate and meteorology records that you can review to perform this threat assessment.