When something unexpected happens to your home such as a fire, flood, explosion or bursting of water pipes, a comprehensive home insurance plan will not only cover the physical loss and damage to your home and its contents, it can save you from financial ruin.

Third-party claims for property damage or accidental injury arising from the damage to your home can be financially devastating.

But if your existing home insurance covers personal and family liability, the insurance company will be the one taking care of the bill, not you.