Finally making the big commitment of owning your home is a fantastic feeling. To know that you have the security of having somewhere to live that is completely yours, and seeing the efforts of all your hard work finally coming to fruition is a real achievement. However a home is far more than just a building, everything in it belongs to you and so is your responsibility. The prospect of losing a home and the contents of it is horrific and unimaginable but unfortunately it does happen, which is why many people chose to purchase homeowners insurance. All New Jersey Homeowners Insurance | NewJersey-Insurance.net providers will differ slightly on the coverages they offer, but there are some standard coverages that are common to all.
- Dwelling – This coverage will pay for any damage to your home that has been caused by loss that is also covered on your policy. These losses usually include fire and lightning, theft, sudden and accidental damage by smoke, windstorms, explosion, vandalism, sudden and accidental water damage as well as riots and civil commotion.
- Other Structures – If you have any additional structures that are situated on your land but not actually attached to your home such as a garage or shed, then your policy will pay out under the other structures damage, if the structure has been damaged or destroyed by a loss that is covered in your policy.
- Personal Property – This is specifically related to any and all of the items within your home. If any of your personal items have been damaged by a loss that is covered then your policy will pay out under the personal property coverage.
- Loss of Use – This coverage will be able to repay you for any losses sustained for your home being in an unliveable condition due to considerable damage caused by a covered loss.
- Personal Liability – This will pay any costs that are incurred if you need to defend yourself in court and also provides coverage in case you are found liable for any personal injury or damage caused to another person.
- Medical Payments to Others – If anybody is significantly hurt whilst on your property then you may be liable and required to cover the cost of their medical expenses. Medical payments to others coverage can make sure you are protected in the event of this happening. This coverage can also come into effect for some injuries to others that occur outside of your home e.g. your dog biting someone.