When To Use Homeowners Insurance


Anyone who owns a home knows that homeowners insurance is an absolute necessity. You never know when mother nature will wreak havoc on your home or someone is going to break in and steal your things. Additionally, many mortgage companies require homeowners have insurance. If you need help finding the right policy, homeowners insurance in Peoria AZ services can help.

Damage to the Home

If your home is damaged by fire, hurricanes, or other covered disasters, you can rest easy knowing that your home will be repaired. Additionally, the items in your home will be replaced, as well. It is important to know that for most insurance companies, you will be reimbursed the replacement cost for an item and not what you paid for it. Furthermore, if you live in an area that frequently deals with floods or earthquakes, you will want to make sure your policy covers those issues and purchase additional coverage if it doesn’t.

Personal Liability

If you, or someone else, are hurt at your home, your policy will pay for their care. Additionally, if your policy covers pets, then your dog could run over to your neighbor’s house and bite her, and the policy will still pay the medical expenses. Insurance experts recommend having a minimum of $300,000 in liability coverage at all times.

Additional Living Expenses

If you are no longer able to live in your home because of a covered disaster, then your costs will be paid. Your hotel bills, meals, and other living expenses will be covered while your home is rebuilt. Additionally, if you rent part of your house out and lose that income due to the disaster, your policy will reimburse you for that lost income. While there is a time limit for how long your additional living expenses can be paid, it will not affect how much will be spent to rebuild or repair your home.


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