Home insurance, also known as homeowners insurance or homeowners insurance, is purchased to protect the residence in which you reside. Homeowners insurance combines insurance coverage for the building (which includes your personal property and additional expenses in case the property becomes uninhabitable as the result of a covered loss and you are required to live elsewhere) as well as your liability, for injuries to others that occur on or off your property.
Wilson Insurance Brokers, an independent insurance agency located in San Diego since 1978, can help you determine the best coverage for your home. Wilson Insurance Brokers represent many of the nation’s top rated home insurance companies. We can compare your current home insurance policy with other homeowners insurance policies now on the market from many highly rated insurance companies. We can also analyze if you can obtain additional savings by receiving home and auto insurance from the same insurance company. Several insurance companies will give you a credit call multi-policy discount.
Let Wilson Insurance Brokers help you create a homeowners insurance policy to fit your unique needs. Contact us today for a free quote or analysis.
Homeowner’s Terms Defined
- Coverage A (Dwelling)– the policy covers the residence premises shown on the declaration page, including structures attached to the dwelling and any materials and supplies located on or next to the residence premises and used to construct, alter or repair the dwelling.
- Coverage B (Other Structures)- the policy covers other structures on the residence premises set apart from the dwelling by a clear space (unattached), including structures connected by only a fence or utility line. This coverage is 10% of Coverage A, so in the event a covered loss destroyed the dwelling and the outbuilding, you could collect for both.
- Coverage C (Personal Property)– the policy covers personal property (contents) owned or used by an insured while it is anywhere in the world for the perils named on the policy. Coverage C is 50% of Coverage A, in addition, except for off-premises coverage. Also, since one of the perils applicable to personal property is theft, the insurer is concerned about its exposure for certain “target” items. HO policies do contain special limits of liability for certain types of personal property.
- Coverage D (Loss of Use)– This is an indirect coverage that applies when the residence premises is not fit to live in due to a covered loss. Sometimes called Additional Living Expense. Coverage D will pay any necessary increase in living expenses that may be incurred so that your household can maintain its normal standard of living.
Liability Coverage: All HO policies are written to include at least $100,000 for Coverage E and $1,000 for Coverage F, although higher policy limits are available. Remember, neither of these coverage options are for you or your regular family members. They protect the insured in the event someone else is injured (Bodily Injury) or his property is damage (Property Damage) due to the negligence of an insured person.
- Coverage E (Personal Liability)– The insurer will pay up to the limits of liability for damages for which an insured is legally liable AND will provide a defense at company expense by a lawyer of the insurer’s choice, even if the lawsuit against the insured is groundless, false or fraudulent.
- Coverage F (Medical Payments to Others)– The insurer will pay the necessary Medical Expenses incurred within three years from the date of an accident causing Bodily Injury, including charges for medical, surgical, x-rays, dental, ambulance, hospital, nursing, prosthetic devices, and funeral services. This coverage applies to persons on an insured location within permission of the insured and to the persons off location if the injury is caused by the activities of the insured or caused by an animal owned by the insured.