Home Insurance Lincoln, CA

5 Components of Home Insurance that a Lincoln Resident Must Have

Whether you live in Lincoln or somewhere else, you have to buy home insurance when you buy a house. In the event of damage or theft, the lender wants to ensure that the home is covered. So, you buy the policy after sifting through many home insurance quotes and your copy is filled with insurance jargon and there are so many pages that you can’t possibly count them all. It is very overwhelming, to say the least. Below is a simpler explanation of your California home insurance policy to maybe help you understand it a bit better.
Dwelling Coverage
There are some components of your policy that have to stay, they are mandatory. There are other ways to reduce your costs; however, this is not one of them. The part that is really important is to make sure that you have enough coverage for these mandatory inclusions. On your policy, you will see the phrase — dwelling coverage. This offers insurance protection to your home, affixed structures, all cabinets, wiring, air conditioning, plumbing, flooring, and heating.
Separate Structures Coverage
Based on a number of other factors such as how big your home is, how many bathrooms, and the kind of roof you have, any custom features (a swimming pool, and any upgrades) will help the insurer calculate an insurance rate. This is how much they will pay to completely replace your home. Separate structures coverage will insure anything attached to or part of your home like your garage, sheds, patios, decks, sidewalks, fences, and driveways. This cost is usually reflected from your initial insurance rate and calculated from there.
Personal Property Coverage
Personal property coverage protects the contents in your home. It is always a wise decision to make sure your policy covers the replacement costs as opposed to the cash value. Cash value will replace items after considering the depreciation. Often, insurance companies will require that you have an appraisal done professionally for fine art, jewelry, and furs. Extra coverage is always available for jewelry if you believe that the coverage you are being offered is not sufficient.
Loss of Use Coverage/Personal Liability Coverage
If you do not feel comfortable with what the insurance company calculates as sufficient coverage, then you can make adjustments until you are by adding endorsements. Another mandatory component is the loss of use coverage that covers you when you are unable to dwell in your house due to repairs being made from damages or any other unforeseen event. This covers the costs of your living expenses to stay somewhere else. Personal liability coverage is also essential. This covers you in the event that someone is injured or hurt on your property and wants to sue you.
Don’t be confused about what is covered, what is not, and how long a claim might take to process. It is understandable that the legalese of insurance policies in general can be cumbersome, but take your time and read through the documents slowly. Ask questions and look up terms on the Internet. Know what is covered because a little coverage likely will not do it if a catastrophe does strike.