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When you make the decision to get home insurance, which is a very good decision to make, one thing you will find is that the policy information can be confusing and overwhelming. When you choose insurance from a professional agency, you will get help understanding your policy, but wouldn’t it be nice to know what it is you are buying before you ever walk into the office? Insurance policies of any type can be full of legal jargon that can leave your head spinning. To help you understand things better, though, here are the details of home insurance policies. This will help you be better prepared to choose the right policy and coverage for your home.

What is Home Insurance?
This is a policy that will pay for replacements of damaged or stolen property in your home as well as repair or replacement for damage to the structure of the home itself as well as property that belongs with the home. Without this insurance, if damage were to occur, you could find yourself paying thousands of dollars in repair and replacement costs. Some of the types of damaging factors covered by home insurance through a company like Corkhill Insurance would include the following:

  • Fire or smoke damage
  • Damage from storms
  • Flooding
  • Theft or vandalism

What is a Deductible?
When you purchase your insurance policy, you will need to choose a deductible for damages. This number is how much you would need to pay out of pocket if you need to make an insurance claim. Here is an example. A kitchen fire destroys the kitchen and dining room of your home. Other parts of your home are damaged from water by the firemen. If you have a $500 deductible, then you would need to pay that $500. Then, the insurance policy will pay for the rest of the repairs to your home as well as for the replacement of any belongings damaged by fire, smoke or water.

Why Does Home Insurance Include Personal Injury?
Part of a home insurance policy will be personal injury and this is for very good reason. You may need an example of this as well. If you know that you have a loose stairway banister in your home and you have not gotten it repaired yet, this could be a danger. Say someone is visiting your home, they lean on the banister and they fall, causing injuries to themselves. They could sue you to have their medical bills paid. If you have personal injury covered in your insurance policy, then the cost will be covered for you. Without this policy, you would have to pay that medical cost out of pocket.

What are Special Policies?
If you have certain valuables in your home that cost more than the average expense of home belongings, they will not be covered in your standard policy. These items would need extended coverage or special policies. What types of items may fall into this category?

  • Jewelry
  • Electronics
  • Collections like baseball cards or comic books
  • Antiques
  • Furs

If you understand some of the terminology that comes along with a home insurance policy, you will find it easier to purchase that policy when you visit a professional company like Corkhill Insurance. There is no reason why you should be overwhelmed or why you should feel lost by all of the legal and insurance jargon. By getting a home insurance policy, you can guarantee that your home and your belongings will be protected. Understanding more about it will help you make the right coverage decisions when you need to.

Scott Corkhill is the owner and insurance agent for Corkhill Insurance Agency, an Independent Insurance Provider in Orlando, Florida. To learn more about Orlando home insurance policies, visit