Protecting what matters the most to people – Part 1


This is the first installment of a series to raise awareness of the “value” that the Insurance Industry provides for both Individual and Commercial clients.

For most American families property insurance provides you with financial protection in the event of a disaster or accident involving your home.

Standard homeowner’s insurance protections

A standard homeowners’ insurance policy insures your home’s structure (house,) and your belongings in the event of a destructive event, such as a fire.

In addition, homeowner’s insurance policies are generally “package policies.” This means that the coverage includes not only damage to your property, but also your liability—that is, legal responsibility—for any injuries and property damage to others caused by you or members of your family (including your household pets).



Property Insurance for condominiums and co-op- apartments generally covers your belongings, liability and certain parts of the interior structure as defined in the by-laws or proprietary lease.

Renters insurance provides similar property and liability protections to those who don’t own their home.

All forms of home insurance also provide additional living expenses (ALE) coverage for the extra costs of living away from home if it is uninhabitable due to damage from an insured disaster.

What is not covered by a standard homeowner’s policy

While homeowners insurance covers many types of disaster related damage, there are exceptions. For example, flood insurance and earthquake insurance are both separate types of policies, which may be desirable depending on where you live.

Poor home maintenance often contributes to disasters or accidents. Maintenance related problems are the homeowners’ responsibility, though there are niche insurance products on the market that may be available to protect against appliance wear and tear.

Next week we’ll take a closer look at Homeowner’s Insurance. If you would like a copy of one of our Property Insurance Made Simple Booklets just call The Bob Lucas Agency – Allstate at 704-573-1113 or e-mail RobertLucas@Allstate.com. We’ll be happy to send it to you.