Common home insurance terms that you should know.

If you have just purchased your first home, then this is probably also your first time dealing with homeowners insurance.  Unfortunately, many first-time homebuyers end up making uninformed insurance decisions because they do not have a clear understanding of the specifics of their policies.  To help you secure the coverage that you need, here are some common homeowners insurance terms that you should know. Liability Insurance Your homeowners insurance policy is made up of several different types of coverage.  One of the main types of coverage included in your policy is liability insurance.  Liability insurance protects you and your family from legal claims that arise due to the following:

• Third-party injuries that take place on your property
• Third-party property damage that takes place on your property
• Injuries that you or a family member accidentally cause off-property
• Property damage that you or a family member accidentally cause off-property
• Pet-related injuries or damages (assuming that your insurance provider offers coverage for your pet's breed)

Liability insurance will cover the medical and compensation costs of affected parties.  This type of insurance will also cover the cost of your legal defense should the affected parties decide to sue. Umbrella Policy An umbrella policy is a supplemental form of insurance that provides excess liability coverage for the policyholder.  The coverage offered by umbrella policies extends past the coverage limits of your homeowners insurance policy to ensure that you do not have to pay out of pocket for particularly expensive liability claims. Dwelling Protection Dwelling protection is one of the main coverages included in home insurance policies.  This portion of your policy offers coverage for the physical structure of your home and all the components that are attached to the home.  This includes things like flooring, cabinetry, fireplaces, attached garages, deck, and so on.  Your dwelling protection will help you pay to repair the damages your home sustains during a covered peril, such as a storm, fire, break-in, and so on. Additional Living Expenses Coverage Additional living expenses is one of the main types of coverage included in your homeowners insurance policy.  If your home is made uninhabitable due to a covered peril, then this coverage will help you cover the cost of temporarily living elsewhere.  This coverage will help you pay for things such as hotel stays, temporary apartment/home rentals, restaurant bills, clothing, pet boarding, and so on. While there are many other home insurance-specific terms that you may be unfamiliar with, these are some of the ones that you are most likely to encounter.  Do you need more help with your home insurance coverage?  If so, then contact the experts at Weeks & Associates Insurance Services in Thousand Oaks, California.   We are ready to assist you with all your insurance needs today.