They always say that it’s best to protect your home and your property with insurance, but a lot of people fail to realize exactly what that means. Many individuals find their claims denied and rejected, causing them to wonder what it is that their policy actually protects them from. When shopping for property insurance in California at california-insurance.net, it’s ideal to keep in mind all of the different kinds of coverage you can buy. This way, you can get a better understanding of what perils your property is protected against and when you can make a claim.
Different Coverage Offered Under Property Insurance in California
- Dwelling (Coverage A) – The structure that you purchased as your house and all other attached structures such as patios, guest houses, indoor gardens, garages, or decks are all considered part of your dwelling. This coverage will provide you financial assistance if and when an approved peril – that is, a peril that is not listed in the exclusions – causes destruction or damage to any part of the dwelling.
- Other Structures (Coverage B) – Other structures coverage is defined as protection given to other structures in and around your property that is not directly attached to the dwelling structure. This could include detached garages, tool sheds, gazebos, or other installments around your primary home. Usually, this coverage is offered at just 10% of the value of Coverage A, but if you feel like you need more than that, you can avail of a bigger coverage for a steeper premium.
- Personal Property (Coverage C) – This coverage will grant you protection for personal belongings inside your home, whether owned by you or other people that reside in your property. Oftentimes, insurance providers will grant you 50% of Coverage A as the value for Coverage C, but you can agree on a different estimate if you feel like your personal belongings might cost more than that.
- Loss of Use (Coverage D) – If and when a peril renders your home unlivable, you will be able to pay for lodging, meals, and other living expenses with your insurance policy. This coverage usually allows up to 20% of Coverage A, but can also be the difference between your usual living expenses and the expenses you spend while you’re out of your home.
- Personal Liability (Coverage E) – Let’s say you had a few guests over and one of them managed to trip, fall, and injure themselves because of your property. You should expect that they will ask you for some sort of compensation for their injuries. This coverage will pay the expense associated with legalities and possible lawsuits that others file against you for injuries incurred on your property.
- Medical Payments to Others (Coverage F) – This particular coverage will pay for the expenses related to the medical treatment and management of injuries others sustain on your property. This does not apply to people residing in your home.