It is almost alike because it intends to protect the homeowner from losing their home. It also covers your belongings and finances due to their property accidents, but it will get tricky as we read on further.
- Liability coverage- This coverage protects you from others. If your neighbor filed a lawsuit against you, for example, your pet or kid caused damage to your neighbors’ property, your insurance company would cover for it.
- Additional living expenses- This covers you for the out-of-pocket costs due to unforeseen circumstances, for example, your house burns due to a gas leak or was taken down due to the earthquake, and you have to relocate for it to get repaired. It will take a while before you can come home, which will cost you since it will be coming from your own. This benefit will rescue you from anything like hotel/rental payments, Food, Laundry, Moving cost, Furniture, etc.
- Other- Actual Cash Value, Guaranteed replacement cost/value, Replacement Value. You can choose in these three of what you would like to get in case given circumstances above that might happen to your house you can further check their policy and the other article references for this at the end.
As mentioned above, these two are a bit tricky. It is like twins that you can’t say the other if you are talking about homeowners insurance. Home insurance tackles more into unforeseen circumstances like weather-related events, but some insurance doesn’t cover flood occurrence. Thus, you can look and get a flood insurance program. You can also check if your house is close to the fault line map to avoid or check if you need other coverage insurance for these incidents.
Home warranty only covers a minimum amount and time. It might seem like Home/homeowners insurance, but it is not because they cover the house’s loss or damage due to certain/unforeseen circumstances like weather or fire. Home warranties cover the appliances or the functions of household systems. There are two causes why some homeowners get a home warranty instead because of costs and time efficiency.
It is important to keep in mind a house is one of the biggest investments and assets. Keeping it insured means keeping it safe. You’ll thank yourself by the time you’ll need to file a claim to your insurance agency.
At Cornerstone Insurance Agency, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (770) 413-0807. Get your free quote today by CLICKING HERE.