Most people know that homeowners insurance will cover their belongings if someone breaks into their home, if their home is damaged in a storm, or if their house catches on fire. Most people also know that homeowners insurance does not cover the day-to-day maintenance costs of owning a home. However, if you pay for the right coverage, it is possible to get your insurance company to cover some of the day-to-day costs of keeping your home up-to-date.
Home Emergency Coverage
If you are worried about not being able to pay for essential repairs to your house, such as heating, air conditioning and plumbing repairs as they come up, you should look into home emergency coverage.
Home emergency coverage is a little different than typical homeowners insurance. It is something that you can add on to your regular homeowners insurance policy. It provides coverage for when you experience "emergencies" related to your heating, plumbing and electrical systems.
Under most insurance policies, these types of "emergencies" are all things that you have to take care of on your own if they are not caused by a covered issue. With this extra coverage, your insurance policy will cover these types of repairs no matter what the cause is.
Instead of taking out home emergency coverage, you can also take out insurance policies for specific parts of your house.
For example, if your house has a really old electrical system in your house, and you are worried about it going out, you can take out an electrical coverage policy. This policy would kick into place if your electrical wiring ever needed updating.
You can take out individual coverage polices for the following areas of your home:
- Boiler Coverage
- Electrical Coverage
- Drainage Coverage
- Plumbing Coverage
Each of these policies would provide specific coverage for each area stated. Individual coverage polices tend to have higher payouts for each area where you add coverage over a general home emergency coverage addition to your homeowners insurance.
If you are really worried about being able to take care of emergencies around your house, talk to your insurance agent about getting home emergency coverage or individual coverage policies. If the warranties for these items have expired, it would be a good idea to look into this type of either type of coverage. If some of these systems are still under warranty, you may want to look into the individual coverage polices over the home emergency coverage option.