What is homeowners insurance?
The coverages included in homeowner’s insurance may cover the cost of replacing or repairing your home or belongings after they have been damaged by fire, theft, or other perils. You may be eligible for reimbursement if your property is damaged by someone else or if someone is injured in your home.
How much does homeowners insurance cost
Costs of homeowners insurance are affected by a variety of factors including your selection of coverages, the features of your home, and the value of personal possessions. Additional coverage may incur additional costs or have higher coverage limits. A representative can help you select the right coverages for you and determine if you qualify for any discounts.
What is homeowners insurance?
Homeowners insurance usually covers:
- Your dwelling
- You may also have other structures
- Personal property
- Liability for injury or damage to property of another person
For greater protection, you may be able purchase additional coverages. Most homeowners insurance policies cover damage from hail, lightning strikes and lightning strikes. It is important to understand that homeowners insurance does not cover all natural disasters. Homeowners insurance does not usually cover damage from floods or earthquakes. To protect your home and belongings from these types of risks, you may be eligible to buy separate insurance policies.
Protection for your home
A homeowners insurance policy includes dwelling coverage, which covers the structure of your home (e.g. The house’s foundation, walls, and roof. Other structures attached to the house, such as a garage, deck or other structures, may be covered by dwelling protection against certain risks.
Protection of other structures
Many homeowners insurance policies include coverage for any structures on your property that are not your home.
Protection of personal property
Homeowners insurance does more than protect your home from damage. You may also be covered for personal items that you keep in your home. Imagine your electronics being stolen or furniture damaged by fire. If your belongings are damaged or destroyed due to a covered risk, personal property protection can help you pay for the repair or replacement. Numerous insurers provide optional coverages to help you protect your belongings. You may be eligible to buy extended coverage for jewelry, watches, and furs with values that exceed your personal property coverage limits.
Protection from liability
The typical homeowners policy covers liability for injuries sustained by someone who is not your spouse or living on your property. Let’s say a visitor falls on your porch step. If you are found to be at fault, bodily injury liability coverage could help cover your legal expenses and the visitor’s medical bills. A personal umbrella policy may allow you to increase your liability coverage. Talk to your agent about the options available.
Limitations on coverage and deductibles
Remember that homeowners insurance policies have a limit on the amount you can pay for a covered loss. Your coverage limits may be adjusted to meet your needs. This includes taking into consideration the value of your home, belongings, and how much it might cost to repair or replace these items if they are damaged by a covered loss.
Most cases, your deductible will be required before your insurance benefits can kick in to cover the loss. For more information about your coverage and deductibles, consult your agent. They can usually be adjusted to meet your needs.
A homeowners insurance policy can provide protection in the event of an unexpected. Local agents can help you choose the right coverage and limit options for you.