Most people who have purchased home insurance know that it covers things such as damage to your personal property. However, many people don't realize the full benefits of home insurance. It offers you a wide range of benefits that you can access at an affordable price.

Surprise Benefit #1: Temporary Housing Money

If you are not able to live in your home for a covered reason, your insurance will provide you with money for temporary housing until you can get back into your home. If the water heater explodes and all the floors in your home need to be replaced, your insurance will cover the cost for accommodations, such as a motel or a temporary rental.

Or if your home sustains a fire, your insurance will cover the cost of a place to stay until your home is safe to live in again or until you find alternative housing. This is a surprising benefit of homeowner's insurance many people are not aware of. 

Surprise Benefit #2: Legal Costs for a Lawsuit

Your home insurance provides you with liability coverage. That means that if someone is injured while they are in your house and they sue you for damages, your insurance company will hire an attorney to represent you and will cover the legal costs.

For example, if someone trips over a guitar on the floor and breaks their arm, your liability insurance would cover the medical and other associated costs. Having liability coverage can get you out of some sticky situations.

Surprise Benefit #3: Stuff When You're Away from Home

Finally, your home insurance follows your personal belongings. So, if someone steals your suitcase from your hotel room or breaks into your car and takes your laptop, you can file a claim with your home insurance, and they will cover the replacement cost of your personal items.

If something is stolen, be aware that your insurance may require you to file a police report, but they will still help you cover the replacement cost. Your belongings are covered with home insurance, even when they are not located in your actual property.

Home insurance is a must-have for anyone who owns a home. In addition to covering the replacement value of your personal property if it is stolen or damaged, home insurance can also provide you with temporary housing costs in the event of a housing emergency. It can cover you if you are sued over something that happened at your home. Home insurance even covers damage to your belongings when you are not home.