No matter how you look at it, purchasing a new home is a big deal. For first-time home buyers, signing on the line and making it official is a huge milestone in their lives. For others, buying a new home can represent a fresh start. Whatever your reasons are for buying a new home in Santa Clarita, you’ll want to make sure you buy a homeowners insurance policy that provides you with the proper coverage to keep your new investment well-protected. There are four types of coverage essential to any new home buyer that the standard home insurance policy covers: structure, personal belongings, liability protection, and additional expenses.
The structural portion of your home insurance policy provides coverage if you need to rebuild or repair your home if it’s damaged or destroyed by one of the covered losses (fire, hail, lightning, hurricane, or other disaster listed on the policy). It typically won’t cover floods, wildfires, mudslides, or earthquakes. For these, you’ll need separate policies.
Personal belongings are things like clothes, furniture, jewelry, sports equipment, etc. They’re covered under this section of your homeowners insurance policy provided that they were damaged or destroyed by one of the listed losses (typically fire, plumbing issues, theft, vandalism). If you have particularly valuable personal items such as expensive jewelry or art, it’s best to get a rider on your homeowners insurance to extend extra coverage in the event you need to file a claim, as the general coverage for personal belongings on a standard home insurance policy is limited.
Liability is relatively simple. It provides you with protection in the event you are sued because someone sustained bodily injury or property damage while on your property, or if you, someone else, or your pet injures someone while they’re on your property.
If something happens to your home to make it uninhabitable, and the source of the damage was due to a covered disaster, this portion of your home insurance will cover hotel bills, food, and other living expenses incurred while your home is being repaired.