Most American families lead busy lives. Going to work, caring for children, getting some healthy exercise, attending social functions, and running errands all take huge blocks of time. To cope, many unwittingly find themselves saving time where they can. For instance, many simply sign on the dotted line for their homeowner's insurance policy without reading the fine print or taking time to ask the broker about all the coverage it may offer. 

Coverage to ensure the home is restored to current code requirements

If you live in a home that is several years old, you probably understand that it was likely built to meet the only the codes that were in place at the time of its completion. Since these codes have likely been updated many times in the intervening years, the extra cost of repairing damage to meet current code requirements is typically included in most home insurance policies. 

For example, if your home suffers a fire and will need new electrical wiring installed as part of the repairs, your home insurance probably already provides the coverage to renovate your electrical system to make sure it fits current codes, instead of those in place at the time the home was built or even those in place at the time the policy was purchased. 

Coverage for food spoilage due to power outages

If you have ever lost a freezer full of expensive meat, vegetables, and fruit after an extended power outage, you know how painful the financial loss can be. What you may not know is that your homeowner's insurance policy likely covered that loss up to a significant amount, at least several hundred dollars. 

Coverage for your college student's personal property

Getting the call from your college student that their laptop has been stolen from their dorm room or their bike taken from the school's bike rack is stressful for the parents who think they will have to replace the expensive items out of their own pocket. In many cases, however, losses that occur to members of your household while in another location, such as college, are covered under the terms of your home insurance policy. 

If you are a typical homeowner, with little knowledge of the actual coverage your homeowner's insurance provides, take time to contact your home insurance broker today. During your conversation, make sure to ask how you can add any additional coverage you might need and how you can take advantage of bundling your policy with others, such as auto coverage, to save money on premium costs. For more information, reach out to companies like Oliveira Insurance Agency.