The Different Types of Homeowners Insurance
The Different Types of Homeowners InsuranceA homeowners insurance policy is designed to protect your house and your belongings inside against covered perils. This policy also protects you against a liability claim which may result in financial loss.
Dwelling Coverage
Dwelling coverage is designed to protect the house should there ever be a covered loss. In your home insurance policy, your dwelling means the entire structure of your house and structures attached to it. For example, a car garage or wine cellar.
Personal Property Insurance
Personal property insurance protects your personal belongings in your house against covered perils. This policy protects your belongings such as:
- Furniture
- Electronics
- Clothes
- Gym Equipment
- Jewelry
- Art
You may need additional coverage for expensive property such as jewelry and rare art.
Liability Coverage
Liability coverage protects you against financial losses which may arise from bodily injuries sustained by guests on your property.
Why Do I Need Homeowners Insurance?
To Protect Your Home And Other Property
A basic homeowners insurance policy protects your home against covered losses. This policy may pay for repairs and replacement of your property.
Your Lender May Require It
Though homeowners insurance is not mandatory, it may be required by your mortgage lender. If you do not have a policy, your lender may put a forced placed insurance policy on the home. The cost would be added to your mortgage payments.
We have an office that can be found in Norman, Oklahoma. We have 70+ years combined experience selling home insurance policies. Tatum Insurance, is here to help members of the Norman community.