With all kinds of different coverages for all kinds of different needs, insurance can be very confusing. And to make it even more challenging, at times it probably seems like insurance websites and policy documents are written in a completely foreign language.
Additional living expenses: Coverage for expenses above your usual living expenses, such as if you have to stay in a hotel because you can’t live in your damaged home.
Catastrophe: A disaster, such as a hurricane or tornado, that impacts a specific area and results in significant damage.
Flood insurance: Typically, standard homeowners policies do not provide coverage for flooding—it must be purchased separately.
Home contents: These are the things inside your house that aren't fixed to the structure, such as your furniture, appliances, etc.
Peril: A specifically defined risk, such as hail, flooding, wind, etc.
Scheduled personal property: Separate coverage for high-value items, such as expensive jewelry, that exceed the limits of your policy or are otherwise excluded.
As always, your JVM team is here to answer all of your questions.
