Homeowner's Insurance Covers More Than Just the Home

Homeowner's Insurance Covers More Than Just the Home

If you own a home, you have homeowner's insurance to cover the home and the property inside. However, there are additional benefits you will find when you purchase the right homeowner's policy for your home.

Replacement Costs

If you add this kind of coverage to your homeowner's policy, you can have the added benefit of being able to replace your damaged property with new items. If you don't have this additional coverage, the settlement you receive for the damaged property may depreciate, and you will not have enough to replace everything that was damaged.

Identity Theft Coverage

Not many people know that some homeowner's insurance policies can include some level of identity theft protection. With this coverage, you will have help covering expenses incurred while you work to get your identity back and clear your credit.

Fund Advances

If you have experienced a substantial loss, then sometimes the insurer can offer the homeowner an advance on their future repair expenses to make the required deposits to contractors and vendors who will be doing the work to repair damage to the home.


Many insurance companies also have people available to help walk homeowner's through the claims process from start to finish and answer any questions or concerns they may have. They can help lead you to a better understanding of the process and even work with contractors to help get your property repaired as soon as possible.

Construction Costs

When the home is damaged and new building codes require different construction, your policy may not always cover it. Most insurance policies are designed to cover replacements and repairs on like kind and quality.

So, if building codes require something different, you may need to make sure you have additional coverage to offset the difference between what you currently have and what you are going to need.

Fence Coverage

Most homeowner's insurance policies also cover fences, sheds, and even landscaping done on the property. However, you need to review your policy carefully when it comes to the property's coverage because this type of coverage often has specific limits and conditions in place.

Medical Expenses

If you have guests injured on your property, most homeowner's insurance policies have premises medial in the policy. This covers an injured guest and provides them access to insurance without having to take the matter to court.

Higher Liability Limits

Suppose you feel that you will need to have much higher liability limits on your homeowner's insurance policy. In that case, you can discuss this with the insurance company and see if they can offer you a higher limit. Some will go as high as a million dollars.

If you have a second home or other significant assets like a boat, you may also want to consider higher limits to protect all of these additional assets.

Homeowner's insurance can be complicated, and there are a lot of coverage options you can consider. Don't hesitate to contact the experts at Panorama today to find the best and most affordable policy with the right coverage for your home and assets.

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