As the summer fades away and winter looms ahead, people are buying added protection for possible emergencies.
The coverage from homeowners insurance is vital in the case of a fire, a burst water pipe, or even when a tree falls over into the house, as it provides coverage for all or part of the repair costs, but many policyholders aren’t entirely certain as to what coverage they have.
This is risky because not understanding coverage means that the protection may not be adequate.
This can also mean that if an incident does occur, they will be faced by the terrible surprise of high out of pocket expenses, where they had assumed they would be covered. In order to compensate for this, many people are choosing to take out special emergency repair coverage above and beyond their homeowners insurance.
This goes above and beyond what homeowners insurance provides and is offering peace of mind.
The fact is that not everybody needs the additional coverage. Homeowners insurance is designed to take the majority of perils into account and to provide coverage for the damages related to those events. But the additional emergency repair plans – offered by companies across the country – are helping people to feel that they have the coverage they need for an urgent situation, when they are not feeling confident about the coverage they have through their standard policy.
All too often, people are hearing on the news that homeowners insurance didn’t cover homes in the event of floodwaters, for example, and that this came as a surprise to the owners of those properties. This has left policyholders feeling shaken about their own coverage and they are often paying the additional $25 to $500 per year in order to make certain that they won’t be left in these situations in the event of more common problems, such as plumbing repairs, air conditioning system and hot water heater repairs, and fixing home electrical systems.
Homeowners insurance customers are finding that they feel much more comfortable about some of the much more common issues – hurricanes aside – that could occur in their houses and are now taking advantage of these plans to keep their money in their bank accounts when emergencies do happen.