Liability limits generally start at about $100,000, however, it’s a good idea to discuss whether you should purchase a higher level of protection with your insurance professional. The liability portion of your policy pays for both the cost of defending you in court and any court awards-up to the limit stated in your policy documents. (However, if they destroy your rug, you’re out of luck.) So, if your son, daughter (or even your dog) accidentally ruins a neighbor’s expensive rug, you are covered. It also pays for damage caused by your pets. Liability covers you against lawsuits for bodily injury or property damage that you or family members cause to other people. Trees and plants are not covered for disease, or if they have been poorly maintained. Trees, plants and shrubs are also covered under standard homeowners insurance-generally for about $500 per item. To insure these items to their full value, purchase a special personal property endorsement or floater and insure the item for its officially appraised value. You also have up to $500 of coverage for unauthorized use of your credit cards.Įxpensive items like jewelry, furs, art, collectibles and silverware are covered, but there are usually dollar limits if they are stolen. Some companies limit the amount to 10 percent of the amount of insurance you have for your possessions. Personal belongings coverage includes items stored off-premises-this means you are covered anywhere in the world. The best way to determine if this is enough coverage is to conduct a home inventory. The coverage is generally 50 to 70 percent of the insurance you have on the structure of the house. Your furniture, clothes, sports equipment and other personal items are covered if they are stolen or destroyed by fire, hurricane or other insured disasters.
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