Homeowners Insurance, Coverage Concepts, & Actually Understanding Them

Coverage Concepts & Homeowners InsuranceUnderstanding The Coverage Concepts Of Your Homeowners Insurance

Homeowners insurance is something nearly every homeowner carries, but that does not necessarily mean that nearly every homeowner understands it. In fact, the Academy of Insurance reports that there are a few areas in which comprehension is notably lacking.

To help you best understand your homeowners insurance and its coverage concepts, here is a quick look at commonly misunderstood concepts.

  • Who Is Insured: When you read your policy, do you understand the different levels of insured? The named insureds are most protected. Your policy may also include coverage for automatic insureds, extended insureds, and additional insureds, so it is important you double-check that everyone who needs to be covered by your policy is listed in one of those categories.
  • What Limits You Have: You may assume all of your personal property is automatically covered by your homeowners insurance, but it is important that you know that your policy likely contains certain limits. Specifically, you should check that you have enough coverage for your valuables. If not, you can talk to your agent to increase your limits or expand your coverage with a rider.
  • What Form You Are Using: Did you know that there are six different standard homeowners coverage forms provided by the Insurance Services Office? Talk to your agent to understand exactly what the form you are using covers and how you can make changes to your standard form to expand your coverage.

We hope this guide is helpful! If you have any further questions about your homeowners insurance, please do not hesitate to contact Pulp Street Insurance Agency. Serving San Gabriel, Westminster, and the surrounding California area, ensuring you have the understanding your coverage deserves is our priority. For all of your homeowners insurance questions, do not hesitate to call our dedicated team of experts.

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