Home Insurance covers the structure of your house: This part of Home Insurance Coverage policy pays to repair or rebuild your home if it is damaged or destroyed by disasters such as fire, hurricane, hail, lightning or other disaster listed in your policy. But then, let me make one thing clear, it will not pay for the damage caused by a flood, earthquake or dames due to routine wear and tear.

When purchasing Home Insurance Coverage for the structure of your home, it is important to buy enough to rebuild the home. Most standard policies also cover structures which are detached from your home such as a garage, tool shed or gazebo.

Generally, these are covered for about 10% of the total amount of insurance you have on the structure of your home. If you need more coverage, I advise you to have a chat with your insurance agent about purchasing more insurance.

Coverage for your personal belongings: Your furniture, clothes, sports equipment and other personal items are well covered if they are stolen or destroyed by fire, hurricane or other insured disaster.

Most Home Insurance Coverage companies provide coverage for about 50% to 70% of the amount of insurance you have on the structure of your home. So if you have $100,000 worth of insurance on the structure of your home, you would have between $50,000 to $70,000 worth of coverage for the belongings. The best way to determine if this coverage is enough, i prefer you to have a home inventory.

This part of your policy also includes the off-premises coverage. This means that your belongings are covered when they are anywhere in the world, unless you have decided against the off-premises coverage. Some companies limit the amount to 10% of the total amount of insurance you have for your possessions. You have up to $500 of coverage value for the unauthorized use of your credit cards.

Expensive items like jewellery, furs and silverware are also covered, but they usual have dollar limits if they are stolen. Generally, you are covered for between $1,000 to $2,000 for all of the jewellery and furs you own. To insure these items to their full value, we have to purchase a special personal property endorsement or floater and insure these items for their appraised value.

Home Insurance Coverage includes the accidental disappearances, meaning that you will get the coverage if you simply lose that item. Trees, plants and shrubs are also covered under standard Home Insurance Coverage. Generally you are covered for 5% of the total insurance on the house and up to about $500 per item. Home Insurance Coverage also covers perils such as theft, fire, lightning, explosion, vandalism, riot and even falling aircraft. But they are not covered for damages by wind or disease. Benefits definitely outweigh the disadvantages. Just go ahead and get yourself a Home Insurance Coverage and enjoy the benefits.