Purchasing South Carolina home insurance can be daunting task if you’re new to owning a home. Honestly, it’s a daunting task even if you’ve owned your home for a decade and are shopping for a new policy. There’s such much at stake. Your home is probably your most expensive investment. It’s probably the most meaningful, as well. So, you’re going to want to get the most out of your home insurance policy. To do this, you have to understand the basics of South Carolina home insurance.
Home insurance basically covers your home against perils. Perils are numerous disasters that can cause damage to your home. A South Carolina home insurance policy centers around these perils, either by listing the perils covered or the perils not covered. Your policy will cover the cost of repair or replacement to damage caused by the perils that are covered by the policy.
How It’s Structured
Most South Carolina homeowner insurance policies are broken down into six categories: Dwelling, Other Structures, Personal Property, Loss of Use, Personal Liability, Medical Payments to Others. Each one of these categories details how much is covered and to what extent your home is covered for that category.
For example, the Dwelling section lists how much your home is covered in the case of a peril involving your home. In addition to this, other structures on your property that aren’t attached to the house, such as sheds or garages are covered under the Other Structures section. South Carolina homeowners insurance covers more than just your house. It covers your possessions within your home under the Personal Property section. In addition, the Loss of Use section provides you with funds to cover the cost of having to stay somewhere else if your house is unlivable do to the peril. Your homeowners policy even covers you in the case of Personal Liability if a peril in your home causes damage to someone else’s home. This comes in handy if a tree from your yard falls on a neighbor’s house. Finally, Medical Payments covers the medical expenses of someone who is injured in your home.
South Carolina Homeowners Insurance Covers More Than Just Your House
As you can see, a South Carolina homeowners policy covers more than just the damages a peril can cause to your house. With so much involved, you really need to read your policy and know what is covered and for how much. You don’t want to be over- or under-insured. You want the right amount of coverage you need to protect your most precious investment.