When you make a large investment into any endeavor, it's important to do everything you can to protect it. Purchasing a house is one of the largest expenditures that anyone could ever make, so getting homeowner's insurance is absolutely essential. Homeowner's insurance provides a financial buffer in case you experience covered losses. While a standard policy will typically cover basic perils such as theft or property damage, there are other risks involved with homeownership that you must protect against as well. Whether you already have insurance and want to beef it up or you are getting coverage for the first time and need to know your options, keep reading to learn more about a couple of additional forms of insurance you might want to include in your portfolio.

Floods May Not Be Covered

Although you may think that flood coverage is automatically covered by a basic homeowner's insurance policy, this is not always the case. As a rule, the standard home or condominium insurance policy does not cover flood damage. If the area you reside in isn't known for flooding, you could mistakenly believe you're in the clear. The truth is that nature has been known to be erratic and you never know what's in store!

Obtaining flood protection can be absolutely lifesaving if the unthinkable were to happen. You must remember that flooding doesn't necessarily have to be a natural event. What if a pipe bursts in your house, spilling out gallons and gallons of water until most of your furniture is submerged? The insurance company could place this in the flooding category, and if you failed to get the right coverage, you may have to pay for the damages on your own.

Loss Of Use Can Be Devastating

If you're unable to reside in your house for a period of time due to damages that make the place uninhabitable, have you thought about where you'll live while the repair work is occurring? This is definitely something you want to give heed to because if a hurricane rips through town and takes your roof with it, you might need somewhere to crash until you can get everything back where it should be.

Loss of use insurance coverage essentially allocates a certain amount of money to be used for alternative housing. It's highly beneficial because if you need to stay at a hotel for a few weeks you'll be glad to have the money to do so.

Having a good insurance policy can really come in handy during an emergency. Contact a home insurance company to inquire about these coverages today.