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Here are some of the common policies or coverage in a homeowner insurance. read on them so you would have an idea when choosing for the right policy.

A standard homeowner policy includes a provision on damages caused by fire, theft, explosion and lightning while floods, earthquakes and damages caused by low or lack of maintenance is not covered.

Most policies include a replacement cost coverage which is covers for the damages to the house structure. This policy pays for the repair or replacements of properties damaged with materials that are of similar quality and type. Any deduction does not apply to depreciation which includes wear and tear, value deterioration due to old age and some other factors that damages your home.

Natural calamities come and the range of damage is unknown to us until it is over and we get to know the effect. After such occurrences like tornadoes or hurricanes, the cost of construction materials increases and the demand for construction workers gets high. With this, your replacement cost policy might not be enough to cover the repair but to help you put, an extended replacement cost policy is recommended. An additional twenty percent or even more is paid depending on your insurance company to rebuild your home the same way it was before the disaster happened.

The cost of rebuilding materials could increase every now and then so consider adding an inflation guard clause in your insurance so in case you choose to renew your policy, it can reflect the current changes in construction cost in the .

Not all companies insure old homes due to the cost needed in recreating it so make sure that you find a company that still insures old homes provided of course that the home is still in good condition.

Be insured and enjoy your home in one of the .  For more information visit to our site at http://www.oldemill.net