What Is Covered With Homeowners Insurance?

Everyone knows that, when they buy a home, they need to get homeowners’ insurance. However, they may not know what all is covered. Though there are different plans, which cover different things, there are some things that are covered with standard homeowners’ insurance. 

Here are some things that should be covered by your homeowners’ insurance policy. 

Damage to your home due to fire and smoke. Fires can really damage a home, along with the smoke that occurs afterward.  

Damage from storms. Most homeowners’ insurance policies cover damage from a range of storms, including winter storms, ice, thunderstorms, and even tornados. It should even cover any damage that may occur due to the buildup of snow and ice. 

Roof damage. Though damage to your roof may not seem significant, the damage could be quite extensive. Not only is water leaking in your roof, but it may also damage the ceilings, walls, and floors throughout your home. Mold is often common and can be quite expensive to fix. 

Plumbing problems. If you have frozen pipes and other water damage due to pipes bursting, it should be covered. 

Damage caused by other people. Homeowners’ insurance also covers theft, along with damage caused by vandalism. It will cover the cost of your belongings, up to a certain point. 

Your homeowners’ insurance will cover a range of damage that may occur, from natural disasters, fire, and even vandalism. It will also cover damage that occurs due to plumbing and electrical issues. 

If you want to make sure that your home is covered in case anything happens, you need to speak with a professional insurance company. Here at Compass Insurance in Centennial, CO, we would be happy to find you the right coverage for you and your family. 

Terms to Know When You Read Auto Insurance Documents

If you struggle to understand your auto insurance policy documents, you are not alone. Many people have difficulty understanding some of the terms commonly used in policy documents.

Do you want to understand your policy documents? Compass Insurance knows the difficulty of remembering some of these terms associated with your Centennial, CO insurance policy. Here are the terms you should know.

Declarations Page

One of the first terms you might see is the "declaration page." This is the document on which the insurance company will discuss all the coverage you have opted into. When you read this page, you will learn more about deductions, drivers on your policy, and coverage levels.

Policies & Coverage

On your declarations page, you will see several types of coverage options. One is liability coverage, which pays bills and repairs if you are decidedly at fault for the accident. Then, there is comprehensive insurance, which covers damage to your vehicle caused by something besides a car accident.

Minimum Coverage

Minimum coverage is the state requirement for insurance coverage in your region. For example, most states have minimum requirements for liability coverage, which will cover damage that you cause to other vehicles. In Colorado, you are required to carry $25,000 for bodily injury or death caused to one person and $50,000 for injury to everybody in any single accident.

Actual Cash Value

Actual cash value, or ACV, refers to the cash value you will receive if a collision or comprehensive policy pays out. This value could be less than the value of your vehicle.

Learn More About Auto Insurance Documents

Are you ready to learn more about your insurance documents? Compass Insurance can help you find the right auto insurance policy in Centennial, CO. Contact our team to learn more.