Home Insurance – Are All Residents Covered By Your Home Insurance?
When you get your home insurance policy you always make sure that all your loved ones are properly covered by it. You just don’t look at the properties the insurance covers but it also includes the people living in your home. A home insurance company is more than protecting your belongings, repairing costs and for rebuilding purposes. Some people don’t know how insurance works and how they insure your loved ones. Here are some things you need to know about what are the specific things that your insurance covers that caters to your family’s needs.
When you check your home insurance documents you will see a specific section called Liability coverage, which is divided into two parts. First is Personal liability and the other one is Insurance medical payments.
Liability protection or personal liability is responsible for any injuries or damage that one of your family member’s has done on other people’s property. This coverage also includes the injury or damage that your pet has caused on others, one example would be biting your neighbor. Medical payments cover the payments that they pay for medical bills for the people who got accidentally injured within your property regardless if it’s their fault or not. This is the best part of the home insurance policy because this ensures your family’s welfare. This also insures you with any accidents that might be caused by vehicles that are used for recreation like operating a boat, trailer, camp or anything that is approved and under the guidelines of your policy. Even if you are located any parts of the world, you will surely be protected.
Usually home insurance experts suggest that you should buy at least three hundred thousand dollars worth of insurance for your household’s protection. You can also try extending your liability coverage by buying an excess coverage policy. This one insures your libel or slander claims. The usual cost of this type of add-on is between two hundred to three hundred dollars per a million of coverage.
Liability has its own limitations. In every rule there are always exceptions so that you would not abuse your right as the homeowner or the company would not take advantage of you. Personal liabilities don’t cover all situations. Usually, policy insurance companies have the same limits. Here are some limitations that home insurance companies have on your liability protection.
It would not cover any incidents or accidents that you or any member has intentionally done. You will not be covered if you join any hazardous activities like participating in extreme sports, car racing and other dangerous activities. You will not also get the insurance if the family member died or got injured after the policy period has expired.
Now, you already know who are the people covered with your home insurance. Don’t choose home insurance policies that provide low protection liability. Make sure that you choose the highest quality of insurance to protect your family. Material things will go away but your family’s welfare will always come first.