Homeowners Insurance Explained

Your home is a major investment, which is why it’s critical to protect that investment with the proper insurance. Homeowners insurance can offer financial protection in the event of an unexpected disaster or accident involving you, your home, or your personal property. At a glance a standard homeowners insurance policy typically provides these five forms of coverage:

  1. Dwellings Coverage – This coverage can offer compensation for repair costs if your home is damaged by a covered event, such as a fire or windstorm.
  2. Other Structures Coverage – If any detached structure on your property is damaged, like a shed or fence, this coverage can assist with repair costs.
  3. Personal Property Coverage – This coverage can provided reimbursement for the cost of stolen or damaged items inside your home, such as furniture or electronics.
  4. Loss of Use Coverage – In the event that you have to move our of your home while it’s being repaired, this coverage can help pay for temporary housing and living expenses.
  5. Liability Coverage – This coverage can offer protection if you are found liable for injuring another person or damaging their property.

Remember, you’ll have to pay a deductible before your homeowners insurance kicks in. What’s more, each form of coverage is subject to a limit, which is the maximum amount your policy will pay for a covered claim.

Contact us today to discuss your homeowners insurance needs.