Have you thought about what you would do if you lost your home and all of your possessions due to a flood, fire, or the like? Well, the first thing most homeowners would do is call their insurance company to find out how to file a claim. Unfortunately, the answer they may hear when they ask about the coverage is that they have no coverage at all for that.



I want to help you understand what is covered and what isn't covered within your insurance plan with this article.

1. Lightning, fire, ice, snow, and frozen pipes are covered under a standard homeowners insurance policy. If you are looking at this list thinking it is short, you are right. These are only a few of the natural problems that can occur.

2. Theft is covered. Many people don't realize this, and they don't even contact their homeowners insurance agent after a robbery.

3. The government can provide flood insurance, but if you don't have it, you are not covered.

4. Earthquakes are not covered without a special earthquake policy. If you live in an earthquake zone, you better have one. Terrorism and acts of war are also not covered, but hopefully here in the US, that isn't anything to be concerned about. For some living overseas, however, this is something that may be need to be looked into for extra coverage. I am not knowledgeable about insurance overseas to be able to give you specifics on that, however.

In this list of things that are covered, this should also cover anything in your home that is lost also. If you are unsure, always check with your insurance agent.

If you have some very expensive items, such as a grand piano, diamond ring, etc., it is important to understand that a standard policy will not cover those items. You will need to talk to your agent about them to make sure you have some extra coverage for each of those items.

Do you run your own home business and have clients come and go at your home office? If this is the case. you must have liability insurance as well. I highly recommend having this even if you don't have a business because most people come and go and visit homes and if you don't have coverage in case they were to get hurt, you could end up owing a lot of money in the long run.

As you can see, homeowners insurance can be tricky and confusing, but it doesn't have to be as long as you stay informed. If you are shopping currently for a policy, take your time and ask lots and lots of questions. It is important to make the wisest decisions you can.