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Does Homeowners Insurance Cover Storm Damage?

WHAT TYPES OF STORM DAMAGE DOES HOMEOWNERS INSURANCE COVER?

Homeowners insurance typically helps cover the following types of storm damage:

 

  • Water and Ice Damage

  • Lightning Strikes and Power Surges

  • Wind, Hail and Fallen Trees

Water and Ice Damage

 

Whether it's a thunderstorm in the spring or a roof covered in ice, water can damage a home. While ice and hail damage are typically covered by homeowners insurance — up to the limits stated in your policy — coverage for water damage varies, depending on the cause. For example, you may find homeowners insurance helps protect you if a frozen pipe bursts in your home. Review your policy to learn what types of water damage it covers.

 

Water and Ice Damage

Whether it's a thunderstorm in the spring or a roof covered in ice, water can damage a home. While ice and hail damage are typically covered by homeowners insurance — up to the limits stated in your policy — coverage for water damage varies, depending on the cause. For example, you may find homeowners insurance helps protect you if a frozen pipe bursts in your home. Review your policy to learn what types of water damage it covers.

Lightning Strikes and Power Surges

Should lightning strike your home or other structure covered by your policy, the resulting damage, such as fire or smoke damage, is typically covered by homeowners insurance. Some policies also provide coverage for power surges and outages that are the result of a lightning strike, such as damaged electronics or appliances. As with any coverage, limits will apply. Check your policy or contact your agent to learn the types and amount of coverage it provides.

Wind, Hail and Fallen Trees

If a strong storm roars through, you may find your siding damaged by hail and shingles that the wind ripped off the roof. Homeowners insurance typically covers wind damage. Coverage also usually includes damage from hail, wind-driven rain or snow that gets inside the home when a roof or wall is damaged due to wind. Most policies also offer some coverage for fallen trees that damage your home, provided the tree broke because of a storm or wind. 

WHAT TYPES OF STORM DAMAGE ARE EXCLUDED FROM HOME INSURANCE COVERAGE?

Earthquakes

Damage caused by an earthquake or earth movement is typically not included in homeowners coverage. However, earthquake insurance may be available as a separate policy. An agent can tell you if this coverage is available in your area.

Article found here:

https://www.allstate.com/tr/home-insurance/homeowners-insurance-cover-storm-damage.aspx 

 

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What Does A Mobile Home Insurance Policy Cover?

 

Mobile home insurance is your best plan for protecting your mobile home! Check out this quick read from Allstate about what is covered under this kind of home insurance.

Although manufactured homes, once commonly referred to as mobile homes, are built in a factory and moved to a chosen location, they aren't much different than a site-built single-family home — even when it comes to insurance. Whether you live there year-round or seasonally, it's important to help protect your home with mobile home insurance.

 

 

 

WHAT DOES MOBILE HOME INSURANCE COVER?

Insurance coverage for mobile and manufactured homes is usually similar to a standard homeowners policy, offering coverage for the home, your personal property and liability claims. The two basic coverages typically included in mobile home insurance policies are for physical damage and personal liability, the Insurance Information Institute (III) says.

Physical structure and contents:

If your mobile home or its contents sustain physical damage from perils such as fire, hail, theft or vandalism, the costs of repairs or replacement are typically covered by a mobile home policy. Additional structures on your lot, such as a patio or garage, and your personal belongings would also likely be covered. However, some policies only cover certain causes of loss. These "named perils" policies may have lower premiums, but be sure to check with your agent so that you know what is excluded from your policy.

Liability:

Mobile home policies typically include liability coverage, which may help protect you (within the stated policy limits) if you or someone in your household is found liable for damage to someone else's property or if a guest is injured at your home. However, liability coverage generally does not cover an injury to you or another member of your household, the III says. If you slip on your steps, you likely won't be reimbursed for any medical expenses. If your kids accidentally break the neighbor's window playing ball, however, your policy will likely cover the cost of repair.

DOES MOBILE HOME INSURANCE COVER WATER LEAKS?

Mobile home insurance may cover water leaks in certain situations. For instance, if a frozen pipe suddenly bursts, insurance may help pay for repairs to your mobile home or its contents. However, you'll likely find that your policy does not cover damage caused by a burst pipe or water leaks if they are the result of a lack of maintenance. For example, suppose your mobile home is vacant and heat is not appropriately maintained, resulting in a burst pipe, or you neglect to repair a leaky pipe. Mobile home insurance probably would not provide coverage for resulting damage in those situations.

The III notes that most mobile home insurance does not include coverage for flooding. You may be able to purchase a separate flood insurance policy through the National Flood Insurance Program.

OTHER CONSIDERATIONS

The coverage limits in a mobile home policy are frequently based on replacement cost, actual cash value or a stated amount (which means there is a maximum amount you'll receive if your home is destroyed), the III says. The III suggests reviewing a stated amount policy (also called an agreed value policy) annually, as you may want to adjust your policy based on current mobile home values.

Also, the III notes, most standard mobile home insurance policies don't provide coverage while the home is in transit.

When contacting your agent about mobile home insurance (not all insurance companies offer it), be sure to ask if any discounts are available. If you already have other coverage with the insurer, such as auto or life insurance, you may be eligible for a multi-policy discount. You may also want to ask whether any optional coverages are available, which may be recommended based on where you live or to expand your existing coverage.

 

Article found here: https://www.allstate.com/tr/home-insurance/mobile-home-insurance.aspx

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Is Jewelry Protected By Renters Insurance?

 

 Very informative article from Allstate about the benefits of renters insurance and the ways it protects your belongings including jewelry. 

 

If you own expensive jewelry, whether it's a diamond engagement ring, a family heirloom or a watch, you may have wondered whether renters insurance covers it.

When it comes to your belongings, it's important to understand what types of risks your renters insurance protects against and how much coverage it provides. In some cases, you may decide that it's worth putting extra protection in place. Here are some things to consider.

 

WHAT TYPES OF JEWELRY ARE COVERED?

The personal property coverage in a renters insurance policy may help pay to repair or replace belongings, including watches and rings, if they are stolen or damaged by a covered peril, such as a fire. Keep in mind that a coverage limit, which is the maximum a policy reimburses you for a covered claim, will apply. Certain items, including jewelry, often have lower coverage limits. Your deductible will usually be subtracted from the amount you're reimbursed for a covered claim.

Watches and jewelry generally won't be covered if you lose them or they are damaged due to wear and tear. Read your policy to learn what risks it covers.

INSURANCE FOR A DIAMOND RING

Renters insurance may help protect a diamond ring, up to the limits stated in your policy, if it is stolen or damaged by a covered peril. Keep in mind that the ring needs to be insured by its current owner. For instance, if someone buys an engagement ring and is in possession of it before proposing, the insurance needs to be in the purchaser's name. But once the ring is given to another person, it needs to be covered by the recipient's policy.

As with other belongings, a diamond ring would typically not be covered by renters insurance if it was lost. Read your policy to learn what risks it covers.

CAN YOU INSURE A WATCH?

Coverage for a watch works similarly to coverage for other jewelry when it comes to renters insurance. Read your policy or talk with your agent so you understand how much coverage you have on items like jewelry or watches.

Read on to learn more about how personal property coverage limits work for jewelry like rings and watches, and how purchasing extra coverage might offer greater protection.

PERSONAL PROPERTY COVERAGE LIMITS

Insurance policies typically come with limits for each type of coverage. For instance, the personal property coverage on your renters insurance policy may have a $50,000 limit (but check your policy to make sure you know what your own specific limits are). That means that if your belongings were damaged or destroyed by a covered peril, your policy may pay up to $50,000 to help you replace your stuff. However, renters insurance policies usually include sub-limits for certain types of items, such as jewelry.

That means that while you may have up to $50,000 in coverage to help pay to replace your belongings if they are stolen, for instance, you may find that your policy provides only $1,000 in coverage for theft of jewelry. Some insurers may set a "group" coverage limit for an entire category of valuables — for example, a maximum of $2,500 for all of your jewelry.

For this reason, it's important to document how much your jewelry is worth so that you can make sure you have enough coverage in place. Documents like receipts and appraisals are good ways to track the value of your belongings, the Insurance Information Institute (III) says. Such records may come in handy in the event that you need to file an insurance claim.

ADDITIONAL INSURANCE COVERAGE FOR JEWELRY

If you find that a standard renters insurance policy doesn't provide enough coverage for your jewelry, you may want to consider purchasing additional coverage.

Some insurers offer optional extended protection for certain valuations, including jewelry and watches. You may find that this type of protection provides coverage for a greater number of risks. You'd typically need to pay your deductible before coverage kicks in, and coverage is typically capped at a certain amount for each item (for instance, up to $1,000 in coverage per piece of jewelry). Your agent can explain the details of this type of coverage so you can decide if it makes sense for you.

Another type of additional coverage is often referred to as a floater or rider. Scheduled personal property coverage is an example of this type of protection. Scheduled personal property coverage basically helps you insure a specific item — an engagement ring or expensive watch, for instance — for its documented value.

To purchase scheduled personal property coverage, you'll typically need to have each piece of jewelry you want to insure professionally appraised, according to the III.

In addition to increasing your coverage limit for jewelry, scheduled items may also be protected against risks that a standard renters insurance policy doesn't cover. For instance, you'll typically find that scheduled personal property coverage covers an item if it's lost — left behind at a hotel, or dropped down a drain, for example — which a typical renters insurance policy may not cover.

You'll also typically find that you can choose to purchase scheduled personal property coverage without a deductible. Meanwhile, you would likely have to pay your deductible before a standard renters insurance policy kicks in to help cover a loss.

A local agent can help you assess your renters insurance coverage so you can determine whether it offers enough protection for your jewelry or whether you may benefit from additional coverage.

Article from:

https://www.allstate.com/tr/renters-insurance/jewelry-renters-insurance.aspx

 

 

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