Metropolitan Life Home Insurance

MetLife is one of the biggest insurance companies in the world. Their specialty is life insurance and the types of products that accompany life insurance such as annuities, investment services and long term care insurance. However, their homeowners’ and auto insurance divisions are large and active as well. The company is marketing a combination auto and home policy called GrandProtect that provides coverage for both at a reduced rate.

The MetLife homeowners’ insurance policy contains the standard elements of coverage for the home, for personal property and a personal liability component. Home coverage includes the house and an attached or detached garage. Also covered in this portion of the policy are structures you own that are not attached to the house, such as storage sheds, fences and barns. Motor vehicles such as your lawn mower or motorized wheelchair are covered, but automobiles are not.

Exclusionary clauses include:

• Earthquake, except by special endorsement
• Floods
• Pet damage
• Damage by birds, rodents, and insects
• Pollution damage
• Water damage resulting from flood or sewer backup, except sewer back up coverage by a special endorsement
• Deliberate damage you do to your own or someone else's property
• Normal wear and tear

The personal property clause covers furniture, TVs, stereos, etc. for both damage and theft. Some items such as jewelry, furs and expensive sporting equipment are subject to limits and probably will need additional coverage. There is coverage for additional living expenses in the event that you must take up residence in a hotel or rental unit while your home is being repaired.

The liability portion of the policy covers expenses in the event you are found to be legally responsible for damages or injuries to others, on or off your property. Business liability is specifically excluded from this clause.

Additional coverage recommended by MetLife includes insurance for flood or earthquake damage, which is not included in the standard policy. There is also a suggestion that coverage for “reasonable repairs” is in order – the example for this coverage is boarding up a fire-damaged home in order to prevent rain from causing further harm.