Here are some of the basic home insurance terms that you should know.

As a first-time homeowner, you are probably feeling a little confused when it comes to your homeowners insurance.  One reason why many new homeowners are confused by their coverage is because they do not know what common insurance terms mean.  To help you out, here are some of the essential home insurance terms defined. Deductible- Your deductible is the amount of money that you agree to pay towards a claim before your insurance coverage kicks in.  Deductibles are a way for the policyholder and insurer to share the cost of coverage.  Typically, assuming a higher deductible means lower insurance premiums because you are assuming more responsibility for claims. Liability Insurance- Your homeowners insurance policy is made up of several different types of coverage.  One of the main types of coverage included in your policy is liability insurance.  Liability insurance protects you and your family from legal claims that arise if someone sustains injuries or property damages that you can be held responsible for.  Personal liability insurance will cover the medical and compensation costs of affected parties.  This type of insurance will also cover the cost of your legal defense should the affected parties decide to sue. Umbrella Policy- An umbrella policy is a supplemental form of insurance that provides excess liability coverage for the policyholder.  The coverage offered by umbrella policies extends past the coverage limits of your homeowners insurance policy to ensure that you do not have to pay out of pocket for particularly expensive liability claims. Dwelling Protection- Dwelling protection is one of the main coverages included in home insurance policies.  This portion of your policy offers coverage for the physical structure of your home and all the components that are attached to the home.  This includes things like flooring, cabinetry, fireplaces, attached garages, deck, and so on.  Your dwelling protection will help you pay to repair the damages your home sustains during a covered peril, such as a storm, fire, break-in, and so on. These are some of the common home insurance terms that you should know.  Do you need help securing homeowners insurance?  If so, then contact the experts at East End Insurance Agency.  We are ready to assist you with all your home coverage needs today.