In addition to providing money to repair or rebuild your home if it is
damaged in a covered incident, homeowners insurance also includes liability coverage.
The amount of compensation you
receive in a covered incident will be determined by the amount of loss, the amount of coverage you have, and your deductibles.
In exchange for standing on your
behalf in covered incidents, the insurance expects you to pay your premiums in a timely manner and keep the car in acceptable condition.
You can focus on other issues that are important to your life and just know that your personal items will be repaired or replaced if they are damaged or
destroyed in a covered incident.
Underinsured motorist bodily injury coverage may pay for you and your passengers» lost wages, medical expenses and other expenses that exceed the limits of the underinsured driver's
policy in a covered incident.
If your home was burglarized or items were
damaged in a covered incident, Petri says this coverage would help pay to replace your property up to the limits stated in your policy.
Underinsured motorist property damage coverage may pay for damage to your car or other property, such as a fence or mailbox,
in a covered incident that exceeds the limits of the underinsured driver's policy.
Underinsured motorist coverage would help pay some of those expenses
in a covered incident.
If your home was burglarized or items were damaged
in a covered incident, Petri says this coverage would help pay to replace your property up to the limits stated in your policy.
For example, if you were hit by an uninsured motorist while driving another person's vehicle, walking across the street or riding your bike, the bodily injury portion of your insurance may help with your expenses
in a covered incident.
This means that if your belongings are damaged
in a covered incident, your renters insurance will pay to replace those belongings up to their current estimated cash value, taking depreciation into account.