Homeowner's insurance can be broadly divided into two categories:

Homeowner's insurance, which refers to insurance designed by insurance companies for the homeowner's home where the homeowner lives on a daily basis, is purchased for the homeowner's home.

Homeowner's insurance covers many things, and homeowners can choose the terms that are right for them based on their actual situation.

Landlord insurance, insurance designed by insurance companies for homeowners' rentals. The subject matter of the coverage is the premises occupied by the tenant and the tenant's liability for personal accidents during the rental period.

In other words, if the house is accidentally damaged or the tenant is accidentally injured in the house during the rental period of the property, the insurance company will settle the claim.

Does homeowners insurance cover damage caused by flooding?

No, it does not. If you live in a flood-prone area, it is wise to purchase flood insurance, and the Federal Insurance Department offers federal flood insurance.

In some places, damage to your home caused by mudslides can also be covered by flood insurance. Even if you are not in a flood-prone area, there are still options to purchase some flood insurance.

Typically, $100,000 of coverage is purchased for about $150-$200 per year.

Can I get coverage for damage caused by fire, lightning, tornadoes, storms, hail, gas explosions, smoke, vandalism, theft, etc.?

Yes. In the United States, the most common standard homeowner's insurance policies typically cover damage from these and other natural disasters. Check the dollar limits specified in your policy to determine if the amount of your claim is appropriate for the particular items specified in your policy.

In addition, if you live in a coastal area, your policy may have some limitations on claims for damage caused by hurricanes. In areas prone to hail, you may also be eligible for a special deduction for hail damage coverage.

If a pipe bursts and water flows all over the place, can I claim for such damage?

Of course you can. The standard homeowners policy provides for claims for accidental water leaks from pipes. Also, you should have your house's plumbing system and heating system inspected annually. However, the policy will not pay for any repairs to the plumbing system itself, but only for water damage caused by flooding.

Can I claim for damage caused by an earthquake?

No. Claims for damage caused by earthquakes are sold as additional coverage in addition to homeowner's insurance. The cost of this coverage may vary by region, depending on the likelihood of a major earthquake in that area.

For example, Memphis is an area with frequent addresses and earthquake insurance is much more expensive than elsewhere.

A storm causes a large tree to fall, thus damaging the roof. Can I make a claim?

Yes. The damage to the roof of your house can be compensated. At the same time, you can also get a claim for the cost of hauling the tree away, up to $500.

During the storm, the tree fell but did not damage any property. Will the cost of moving the tree be covered by insurance?

Usually not. The cost of moving large trees and bushes can be covered by insurance for damage caused by vandalism, theft or fire, but damage caused by high winds is not allowed.

If a fallen tree blocks your way home, the cost of removing the tree may be covered. You can decide for yourself if you need additional insurance for trees, shrubs, and plants within your property rights.

This additional coverage will cover not only the cost of moving the fallen tree, but also the cost of replanting new trees and other plants.

Will a claim resulting from a natural disaster increase my premium?

Any claims caused by natural disasters do not, in principle, increase premiums. However, this is not the case if accidents are frequent.

The three things that insurance companies resent the most are fire, especially negligent fire. The second is water damage, caused by floods without natural disasters. Third, theft or damage by others.

If you have 2-3 in 3 years, in addition to your premiums skyrocketing, there's a chance you'll be denied coverage by all insurance companies.

Is there a time limit for homeowners insurance claims?

It varies from one insurance company to another, but it is roughly as follows:

Send proof of loss to the insurance company within 60 days of the date of the accident.

Select an appraiser within 20 days of the insurance company's notice of appraisal.

If the claim is disputed by the insurance company, a lawsuit must be filed within 12 months of the date of the loss.

If the loss occurs when the vacant building lasts longer than 60 days, the insurance company will not settle the claim.