A line of insurance is simply a type of insurance. The phrase ‘home insurance lines’ refers to the different types of policies available. There are many different types depending upon what property you have, whether you own it or not and even what sort of risk you think your home is likely to be exposed to. For instance someone in an Earthquake will want this type of insurance whereas it is not relevant to someone who lives in an area which has never suffered an earthquake.
Choosing the right type of insurance is important to ensure you have the required cover when you need it. Obviously you hope it will never be needed but there is peace of mind from having the right policy in place. Even brokers will speak to companies like Superior Access Insurance Services, Inc to confirm the full range of home insurance lines available and the right choice for you. Part of the issue surrounding this is the tendency for people to underestimate the value of insurance they need. It can cost a surprising amount of money to refurnish a house; this cost is often underestimated as the smaller items are overlooked and these are what actually increase the cost dramatically!
Purpose of Home Insurance
The obvious purpose of this type of policy is to protect you! A good home insurance policy will ensure you are not financially out of pocket if you have experienced a theft, or damage to your property. It will also cover you against injury to third parties both whilst on your property and by a piece of your property breaking off and injuring them.
Range of Policies
There is a huge variety of policies which can be taken out, each one offers a different level of protection and comes with its own cost.
Property insurance will provide you with the funds you need to repair or even rebuild your property if something has happened; such as a natural disaster or damage from an accident. This insurance deals with fabrication issues and third party claims if someone is injured at your property.
The contents of your house, furnishings and personal belongings are generally covered on a separate policy to the main property insurance. This policy is not mandatory but can be extremely beneficial if you are the victim of a burglary or even a flood. Contents insurance generally covers the cost of cleaning and redecorating as well as refurnishing and replacing jewelry.
This is generally included in the property policy but can be listed as its own policy; particularly if there is a specific set of risks present.
As with the fire insurance and already mentioned, if you live in an earthquake zone it is worth having insurance to assist with the repairing and refurbishing bills after the event.
There are also a range of home insurance policies which cover renters in your property or if your home is vacant. You can even get cover for a static caravan, or mobile home.
The range is huge and it is advisable to enlist professional help to obtain the right policy.