Reviewing and Understanding your Homeowners Policy

Many things can change within a year, which could impact your insurance needs. The start of a new year is a good time to take an opportunity to review your homeowners insurance policy and your coverages. Doing so may save you some time and money should the unexpected occur. Here are a few things to look at while reviewing your policy:

What is covered?

Your homeowners insurance is made up of several coverages which can help pay to repair or replace your belongings and your home should they be damaged by certain perils such as fire, theft or windstorm. A standard homeowners policy typically includes the following coverages:

• Coverage A: The limit for your dwelling/home physical structure, and any other structures permanently attached to your home.
• Coverage B: Often referred to as "Other Structures" protection, Coverage B provides coverage for structures not attached to your dwelling/home.
• Coverage C: Extends coverage for your personal property and belongings.
• Coverage D: Provides coverage for the additional living expenses incurred, as a result of your home being deemed uninhabitable due to damage sustained from a covered peril.
• Coverage F:  Also known as "Medical Payments to Others" coverage, offers coverage for medical bills should someone be hurt or injured on your property.

Edison Insurance Company also offers additional coverages and increased limits to best suit your needs.

What is not covered?

Although your homeowners insurance covers many types of perils, there are exceptions. One notable exception is flood coverage, as a standard homeowners policy does not cover flood damages. However, Edison Insurance Company offers a certified flood endorsement to qualifying policies, which eliminates the need for a standalone flood insurance policy.

Should you have any questions or need to make any changes to your policy, please contact your agent for assistance.