What will your homeowners insurance cover?
Hazard insurance is not purely meant to protect the structure of your home. It will also cover furnishings, furniture and other personal items. It is also possible that hazard insurance will protect other structures that you have on your land, such as a freestanding garage or a swimming pool. However, if you have personal items that are very expensive, such as jewelry, or family heirlooms then it is likely that you will need to take out separate coverage to protect these items. Hazard insurance will also not cover business equipment, and often it will not offer any protection for damage caused by natural disasters. The basic standard California homeowners insurance policy will come with some form or liability coverage and this is extremely important. Liability coverage will protect you financially if anyone suffers a personal injury in your home and wishes to bring a case against you, or if another’s property is damaged due to the actions of you or a member of your family. For example, if the mailman is bitten by your dog, then liability coverage will enable you to pay for the cost of his medical treatment as well as possibly paying some sort of compensation.
How can you find homeowners insurance?
Unfortunately in California finding good homeowners insurance is extremely difficult. You may be limited in the companies you can approach if you have taken out a mortgage, as your mortgage lender may require you to take out a policy with a particular company. However, if you do not have this restriction then you have the benefit of being able to shop around. Using comparison sites can be very useful as they will allow you to see the kind of prices you can expect to pay. However, it is also important to research and approach individual companies as many won’t show up on comparison sites.