If you have a mortgage on your home, then you are required to have home insurance coverage. This coverage protects your home against damage in the case of unforeseen circumstances. These unforeseen circumstances are things like natural disasters, fires, and vandalism. Here are three things that your policy should cover.

Loss Of Use Coverage

If your house becomes damaged and you have to leave it for repairs, then you are going to need somewhere to stay. Homeowners in this situation usually have to stay with relatives, in a hotel, or in an apartment. Many families do not have the extra money to pay for both households. If you have a homeowner's policy, then the policy will cover the expenses for you.

Personal Property Coverage

It is very common for your personal items to get destroyed when your home is damaged. Personal items are things like clothing, electronics, appliances, and furniture. The insurance company usually gives you a settlement for the cash value of the item. If your personal belongings can be repaired, then the insurance company will pay to repair them.

For this coverage, you have the choice of getting standard or optional coverage. The optional coverage covers damaged personal items without charging a deduction for the item depreciating. Both options have policy limits and are subject to deductibles.

Identity Fraud Coverage

Every homeowner's needs are different. Identity fraud is a serious crime that is affecting families across the country. A homeowner's insurance policy can help you recover your financial losses in case it happens.

Identity fraud coverage is optional when purchasing homeowner's insurance. Identity theft is when someone takes your name, bank account details, home address, credit card information, and date of birth. A criminal can use this information to withdraw money from your bank account or to take out a loan.

When your identity is stolen, it is hard to prove that you are not responsible for these debts. It also will be hard for you to get access to your bank account and to get approved for loans while the investigation is going on. If you add identity fraud coverage, then your family will be covered for up to $25,000 for debts relating to someone stealing your identity.

Owning a home is the American dream for most people. It helps to understand every step when purchasing a house. Something like home insurance is a requirement. However, it helps to understand what the policy covers.

To learn more about what coverages are available to you as a homeowner, contact Willie Swims Ins Agency, Inc. or a local insurance agent today.