Imagine: you enjoyed the perfect evening with your family. You and your children ate a nice dinner at your favorite family restaurant. You followed up your meal with a trip to the movie theater to catch the latest blockbuster. The kids had an amazing time. As you are driving home, with the kids fast asleep in the back seat, you are completely satisfied. It was the perfect evening. As you enter your drive way, you notice that your door is wide open. You are immediately torn away from your blissful state. You realize that your home has been burglarized. Your most cherished belongings have been destroyed and your most expensive possessions have been stolen. Many emotions and thoughts are rushing through you. You are particularly concerned about the financial implications. How will you be able to replace what has been damaged and stolen? Then, you remember you have home owners insurance. Some of your anxiety has dissipated as you realize that you are covered.
Homeowners insurance provides an owner with peace of mind when confronted with an unexpected disaster. Home insurance is property insurance for private residences. Known as Multline insurance, home insurance provides both property and liability coverage with a single premium. Most basic policies cover a vast array of personal property in the event of disasters such as fire and theft. Typical coverage includes the physical structure of the house. Also included are other structures that are located on the property (i.e. garage, shed.) Furthermore, coverage typically includes most personal property. Personal property that is usually covered includes furniture, appliances, and clothing. Additionally, it is common for policies to cover expenses that result in a house’s loss of use. For example, a policy often covers the costs associated with having to rent an apartment while the damage to your uninhabitable home is being repaired.
Nothing can fully prepare you to deal with a fire or a burglary. However, Home insurance can provide you with some financial peace of mind and will help to begin the process of making you whole.