Tampa Homeowners Insurance – Make Sure Your Policy Adequately Covers Your Home

By Adams Bridges

Your homeowners insurance is the perfect financial plan to guarantee your home safety, And to gain peace of mind. Your home is the safe shelter which protects your family, your pets and your possessions. So it is your responsibility as a homeowner to protect your biggest investment and maintain your financial stability by purchasing adequate homeowners insurance coverage. However, having sufficient coverage doesn't mean unaffordable premium rate. In such a situation you should know about your policy hidden limitations.

Homeowners insurance carriers increase insurance rate in case the insured's property is not well-maintained, that is due to the likelihood of recurring damage related to the house plumbing and electrical systems. Therefore, most of claims arising from losses in dwelling structure and contents will be denied, if the homeowner doesn't put enough effort to keep his premises well-maintained. Hence common tear and wear is not included in your homeowners insurance. However, the unexpected mishaps are not excluded from your policy.

Your homeowners insurance policy has many limitations. For example the insurance provider limits contents coverage up to 60% of the dwelling structure coverage amount. If you have an expensive items in your home like valuable paintings, diamond rings, fur clothing, plasma HDTV set or high-priced laptop the insurer will only compensate you for $2500 of these items total value in case of loss. Therefore, you should take advantage of extra insurance endorsement such as homeowners insurance rider that may cost you no more than $55 annually.

The basic Homeowners insurance coverage doesn't protect your property from damages related to basement water leaks, or the property maintenance lack resulting in plumbing damage and water damage caused by flood or hurricane. In this situation you have to purchase additional coverage such as separate flood or hurricane insurance or a policy rider. However your homeowners insurance company will pay out for the cost of repairs in case of unforeseen incidents like unexpected pipe bursts, home contents loss as a result of heavy rain.

Your homeowners insurance exclusions are unknown section of your policy. Therefore you need to read the small print carefully to make certain your homeowners insurance covers you.