Home Insurance Basics

Homeowners insurance covers the damage to your home and belongings in the event of a disaster, whether it be a fire, weather-related catastrophe or a break in by an intruder.

When you purchase homeowners insurance , you will receive a detailed list of what your individual policy includes at the time of purchase. However, here are some of the most common types of insurance that your policy may include:

Building coverage: typically, this is a percentage of the current market value of your home. For example, if you bought a house for $20,000 and it’s now worth $150,000 but you have a building coverage limit of 50%, then you would be reimbursed for half the cost to rebuild your house up to $75,000.

Personal property coverage: this is the estimated cost to replace your personal belongings if they are stolen or destroyed by a covered cause of loss. For example, if all of your furniture and clothes were completely destroyed in a fire, you would be reimbursed for their costs (minus your deductible).

Liability coverage: this part of your policy covers the damage that you or a family member could do to someone else’s property. In addition, if you’re sued because of bodily injury, property damage or medical expenses due to an accident in which you were at fault, homeowners insurance typically covers your legal fees and settlement costs up to your coverage limits.

More About Homeowners Insurance

Deciding on a homeowners policy can require a bit of time and research, and our professional staff is here to provide you with the information and expertise you need to make sound decisions. Click below for a quote, and let’s talk about how to best protect your home.