For many homeowners, it seems like insurance is an unnecessary expense. It might seem unnecessary, until disaster strikes and there’s no way to recover. Insurance is a vital part of home ownership and general liability protection. There are many regions that experience inclement weather such as flash flooding or heavy storms. This kind of disaster could leave a family without a home. If a guest comes over and is injured the homeowner might find themselves paying out of pocket. Protection against these kinds of incidents can help homeowners get back on their feet should the worst happen. It might be surprising what home insurance doesn’t cover, so it’s a good idea to talk to a local Insurance Agency in Clear Lake IA about coverage gaps.
A coverage gap is a lack of coverage in a certain area of a policy. For example, if a homeowner’s tree loses a limb and that limb damages the neighbor’s car, the insurance policy might not cover it. If a guest is injured by a pet the general liability coverage might not protect the pet owner from damages. Without protection against this kind of liability, the homeowner would be paying out of pocket to settle the case. This could end up being very expensive depending on the extent of the damages. For detailed information about exactly what kind of damages are covered by a policy, the policyholder needs to talk to their Insurance Agency in Clear Lake IA.
Additional coverage will raise the price of the policy, but in most cases, it’s well worth it. Having extra protection against certain events could end up saving thousands of dollars. Without this extra protection, some homeowners could end up having to pay for a whole new home out of their own pocket, rather than being able to depend on their insurance policy to help them recover when they need help the most.