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Your current home insurance policy may not be providing you with the protection you need. These are the usual kinds of policies that traditional home insurance companies provide:

At the top of the list are perils. These policies specify the types of loss that youre protected against. Included in things that are usually covered are some weather problems like hail or high speed winds, some kinds of water damages, and of course, fire, smoke, lightening, explosions, even damage from a vehicle or airplane crash. Unless you suffer loss or damage to your home or personal property from one of the specified types of loss, youre not protected. For example, a named perils policy will usually cover an accidental fire loss at your home because fire is listed as a covered peril. However, lets say you have a water loss at your home when a water line breaks. If the list of perils in your home insurance policy contains water damages, then you should be covered, but if not, you must pay for the costly repairs on your own. Have a good look at the list of perils in your policy so you understand what is covered, and what is not.

The second kind of coverage is called comprehensive. All-risk policies are another name for these kinds of policies called comprehensive. All kinds of losses are included in these, unless they are listed in the exceptions. Loss or damage due to wear and tear, snow slide or landslide, acts of terrorism, and war are some examples of the types of loss typically excluded in comprehensive policies. Comprehensive insurance policies protect you better than other types of insurance, so be sure to have this type to be covered for most things, except for some rare exceptions.

The third kind of coverage is erred to as broad form. Broad form offers comprehensive protection on the named perils list for your property and home. While this may seem like an interesting idea, its actually quite silly. We will examine what would happen if your TV is damaged as it is being moved, because you are painting and needed to move things around. Damages to your hardwood floors would be covered in this situation, but your television would not be covered here with a broad form policy.

Its confusing, right? Your policy should have the best kind of coverage, ensure that you have comprehensive protection. If you dont, youre not fully protected and will be disappointed if you have a claim.

If there are certain kinds of protection that you need, be sure that they are covered in your comprehensive policy and if not, get what you need by adding it on at an additional fee. In fact, most traditional policies dont automatically provide earthquake protection , nor do they provide the broadest water protection available. They also dont provide enough protection in the event that there are additional costs to rebuild your home to current building codes, which means you could be out of pocket for tens of thousands of dollars. In all cases, you have to pay extra to be fully protected.

Protection from damages caused by anything, even an earthquake, will be included in the better home insurance policies. The expenses in upgrading to building code standards after damages should be included, as well as for water damages of any kind.