Home Owners Insurance Sinking Spring, PA – Types of Insurance

by | Mar 15, 2012 | Insurance

Purchasing a home is one of the biggest investments we can make. The cost of purchasing a home is quite high especially with the economy as it is. Nothing can be worse therefore, than losing your home or its contents. However, the possibility of something unfortunate occurring is real. It is therefore important to ensure that you keep your home safe and are able to pick up if anything unfortunate were to happen. Home owners insurance is an absolute must for any home owner in Sinking Spring, PA. It is therefore important for you to understand the two main categories of home owners insurance Sinking Spring, PA.

Buildings Home owners insurance is the first category of coverage available for home owners. This type of coverage covers the actual structure of your home and the land on which it is built. You may also take this insurance coverage for an empty piece of land you own.

Buildings insurance is not limited to the structure of the home and the outside land it also covers any permanent fitting within the home. You will therefore find that your bathrooms, sinks, toilets, and permanent kitchen fittings are covered by the building insurance.

Building insurance policies vary widely. It is therefore important to take some time to fully understand the contents of your insurance policy. Some insurance policies will cover additional structures within your property including garages, fences, outside walls stores, and shades.

Building home owners insurance Sinking Spring, PA will cover you in the event of a fire, flooding, vandalism, impacts to the building by vehicles, earthquakes, storms and bad weather, subsidence and falling objects from aircrafts. Building insurance is mandatory if you intend to take out a mortgage to finance the purchase of a house.

The second type of Home owners insurance Sinking Spring, PA available is content home owners insurance. Unlike building insurance, content insurance is completely voluntary. However, it is wise to include this coverage in your insurance policy.

As mentioned earlier, your building insurance will only cover the physical structure of the building and various other permanent structures. Content insurance will cover what is contained within the building that cannot be covered by building insurance.

Although many people place more value on the physical structure of their homes, the content of the buildings also has a great deal of value when considered collectively. It is therefore important to consider home owners insurance that covers the valuable contents of your home. Content insurance covers items that are not part of the fabric of the building that makes your home. Items covered may include electronic equipment, furniture, books, garden equipment, contents of your bags, and bikes.

Home Owners Insurance Sinking Spring,PA is an absolute must for those who understand the risks of owning a home.

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