1701 Gateway Dr. Ste. 431
    Richardson, TX 75080
    972-480-9878
   

A standard homeowners insurance policy includes four essential types of coverage:

Coverage for the structure pays to repair or rebuild your home if it is damaged or destroyed by fire, hurricane, hail, lightning or other disaster listed in your policy, not including damage caused by a flood, earthquake or routine wear and tear. When purchasing coverage for the structure, it is important to buy enough to rebuild your home.

Most standard policies also cover structures that are detached from your home such as a garage, tool shed or gazebo. Generally, these are covered for about 10% of the amount of insurance you have on the structure of your home. If you need more coverage, talk to your insurance agent about purchasing more insurance.
￭ Furniture, clothes, sports equipment and other personal items: covered, if they are stolen or destroyed by fire, hurricane or other insured disaster. This coverage is most provided for 50% to 70% of the amount of insurance.

￭ Off-premises coverage: your belongings are covered anywhere in the world, unless you have decided against off-premises coverage. Some companies limit the amount to 10% of the amount of insurance you have for your possessions. You have up to $500 of coverage for unauthorized use of your credit cards.
￭ Expensive items: like jewelry, furs and silverware, are covered, but generally, there is only between $1,000 to $2,000 for covering all of your jewelry and furs. To insure these items to their full value, purchase a special personal property endorsement for appraised value.

￭ Accidental disappearance: if you simply lose that item, and there is no deductible.

￭ Trees, plants and shrubs: also covered. Generally there is 5% of the insurance on the house-up to about $500 per item.

￭ Perils covered: theft, fire, lightning, explosion, vandalism, riot and even falling aircraft, not including damage by wind or disease.
￭ Liability covers you against lawsuits for bodily injury or property damage that you or family members cause to other people. It also pays for damage caused by your pets. However, you are not covered for damage caused by other people.
￭ Cost of defend: Liability Protection pays for both the cost of defending you in court and any court awards-up to the limit of your policy. You are also covered anywhere in the world.
￭ Umbrella or excess liability: Liability limits generally start at about $100,000. However, it is better for you to purchase at least $300,000 worth of protection. You can purchase an umbrella or excess liability policy which provides broader coverage, including claims against you for libel and slander, as well as higher liability limits. Generally, umbrella policies cost from $200 to $350 for $1 million of additional liability protection.
￭ No-fault medical coverage: If a friend or neighbor is injured in your home in an event, he or she can simply submit medical bills to your insurance company. This way, expenses are paid without a liability. However, it does not pay the medical bills for your family or pet.
￭ Additional costs of living away from home: due to damage from a fire, storm or other insured disaster. It covers hotel bills, restaurant meals and other living expenses incurred while your home is being rebuilt. Coverage for additional living expenses differs from company to company. Many policies provide coverage for about 20% of the insurance on your house. You can increase this coverage for an additional premium.
￭ Rent out: If you rent out part of your house, it also reimburses you for the rent that you would have collected from your tenant if your home had not been destroyed.