The insurance policy that you choose to carry on your home and property can be an important form of protection. However, this is a type of protection that can be confusing to homeowners, which can lead to them neglecting to verify that they are avoiding some common coverage mistakes and oversights.

Coverage For Separate Structures On The Property 

There are many homeowners that may have separate structures on their property. A common example of this can be a detached garage or an accessory dwelling unit. Repairing damages to these structures and the losses that can occur if they are destroyed should be a factor when weighing the policy that you will buy. The type and extent of the coverage that you will need from your insurance may offer can vary based on the type of structure that was damaged. For example, the insurance needs for an accessory dwelling unit may be substantially higher than the coverage needs for a workshed. When assessing the coverage needs of your garage, it is important to be mindful that your vehicle is likely to be inside the structure when damage occurs, and you may want to have enough coverage to pay for this loss.

Protection Against Flooding

Flooding is a devastating event that homeowners can be prone to underestimating until it damages their property. While those living in low-lying areas may be fairly aware of the need to carry this coverage, it is actually a protection that almost every homeowner should invest in having as flooding can occur anywhere. Without flood insurance coverage being added to your basic policy, you may find that you will be left unprotected in the event that serious flooding occurs to your property. For those that live in areas where flooding is an uncommon event, the addition of this coverage can have a negligible impact on their total home insurance premiums while significantly increasing the protection the home enjoys.

General Liability Coverage

Unfortunately, there is a risk that individuals visiting your property could suffer injuries or other damages. This can lead to the homeowner potentially facing a lawsuit as a result of these damages, which can be sizable. Luckily, homeowner insurance policies can provide general liability and medical coverage that may shield the homeowner from being responsible for these incidents. Depending on the issuer of the policy, you may be able to dramatically reduce the premiums for this coverage by installing security cameras. This can provide valuable evidence as to the factors surrounding these accidents, which can help to shield the homeowner and the insurance provider against fraudulent claims.