What is covered in a typical Lodi homeowners insurance policy?

Your standard Lodi home insurance policy usually comes with 4 essential protections. Home insurance coverage is in place to provide financial protection from loss and damages due to disasters and accidents.

A basic homeowners insurance policy will have 4 basic coverages; Coverage for your personal belongings, Coverage for the structure of the home, Liability protection and coverage for additional living expenses if you are unable to live in your home. 

1) Coverage for your Lodi Ca homes structure 

Home insurance will help to pay for repairs or to completely rebuild your home if the worst were to happen. Under most homeowners insurance policies the type of damage that is covered may be fire, hail, storms, a hurricane, lightning or another natural disaster that is listed as covered in the terms of your policy. Earthquakes and floods are usually not included. There is additional insurance you can purchase to cover those risks. 

The majority of home insurance policies in Lodi California will cover detached structures as well. For example your garage, shed, gazebo or pool house may be covered under your standard policy. 

When you’re purchasing homeowners insurance you always want to buy enough to cover a complete rebuild if the worst were to happen. Your home is a big investment, having the peace of mind in knowing it’s protected will help you sleep at night. 

2) Coverage for your personal belongings in Lodi California 

Your personal items like your clothes, furniture, and various other personal belongings are protected by your Lodi home insurance policy from fires, theft and other disasters. A good way to find out how much coverage you should purchase, you may want to take a home inventory of all of your valuables. 

This portion of your home insurance coverage can help to protect personals items that are not stored on your property. Basically, you’re covered anywhere around the world. Typically, home insurance companies will limit the amount to around 10% of your possessions. Although, you will always want to check with your home insurance company first to know the specifics of your exact homeowners insurance policy.

There’s usually a dollar figure that’s covered for valuables if they are stolen. These belongings can include watches, jewelry, art, collectibles and other value items. If you’re looking to insure items of this nature by a higher amount, you may want to look into a personal property endorsement or floater and then continue to insure the items for their current appraised value. 

Homeowners will be happy to hear, plants, trees and shrubs are also covered under your standard home insurance policy. Typically, items like these are covered for around $500 per item. Please keep in mind, your homeowners insurance policy will not cover you for a sick tree or if damage was caused by negligence or poor maintenance. 

3) Lodi Liability insurance

The liability portion of your homeowners insurance policy covers you for legal fees and lawsuits if someone is hurt or injured on your property. It can also cover you for property damage caused to other people by yourself or your family. If your pet causes some sort of damage there is a good chance the liability portion of your policy will cover it. 

Liability insurance will pay for both the fees to defend you in court and any potential court awards. This should be up to the limits stated within your individual homeowners insurance policy. 

Typically, liability insurance starts around $100,000. Although, it’s always wise to take a look at purchasing a higher level of coverage. An umbrella or excess liability policy can help you go beyond the limits if you have assets of significant value you want to insure. These additional elements will give you broader coverage and overall higher liability limits. 

Check with your insurance agent to insure your homeowners insurance policy has no-fault medical coverage. This will cover you if a friend or neighbor is hurt or injured on your property. They would simply turn in their medical bills to your home insurance company. The great thing about this option is expenses can be paid out without a liability claim being filed against you the policy holder. Please keep in mind, it will not cover your families or your medical bills.

4) Lodi Additional living expenses (ALE) coverage

Additional living expenses home insurance coverage will cover the costs and additional expenses you may encounter by not being able to live within your home. For example if your home is damaged by a covered peril and it is unlivable, ALE will cover a portion of the additional expenses and bills you run into. 

Additional living expenses coverage can help to cover hotel bills, meals at restaurants, and lost rental income. If you’re forced from your home and it causes you to endure additional living expenses, there’s a good chance this portion of your policy will cover you. 

Please keep in mind, like the rest of your homeowners insurance policy, ALE too has it’s limits. Staying at the Four Seasons and eating steak and lobster everyday more than likely will be excessive and beyond the limits set in a typical policy. 

The additional living expenses part of your policy is separate from the amount it takes to rebuild or repair your home. So, it will not interfere with the amount to cover the rebuild. 

If you rent a portion of your home out and are longer able to. Additional living expenses can cover the amount you would have received from your tenant if they are no longer able to use the property. 

Finding homeowners insurance in Lodi is easy when you deal with a reputable insurance agent that is liked and trusted by the community. That insurance broker is Eugene C Yates Insurance Agency. Give us a call today for a fast, free quote! 209-339-1130