Homeowners Insurance

What Does Homeowners Insurance Cover?

• Dwelling Coverage: Protects the physical structure of your home, including walls, roof, and foundation, against perils like fire, wind, and vandalism. Standard coverage limits can range from $100,000 to the full replacement cost of the home.
• Other Structures: Covers detached structures on your property, such as garages, sheds, and fences. Coverage typically equals 10% of the dwelling limit, which can be customized as needed.
• Personal Property Coverage: Protects personal belongings within the home, including furniture, electronics, and clothing, from covered perils. Coverage limits can be customized and often range between 50%-70% of the dwelling coverage.
• Loss of Use: Covers additional living expenses if you must temporarily relocate while repairs are made. This includes hotel stays, meals, and other necessary expenses, with limits usually around 20% of the dwelling coverage.
• Personal Liability Coverage: Protects you from legal liability if someone is injured on your property. Coverage limits commonly start at $100,000 but can go up to $500,000 or higher.
• Medical Payments to Others: Covers medical expenses if a guest is injured on your property, regardless of fault. Coverage typically ranges between $1,000 to $5,000.
• Fire and Smoke Damage: Provides specialized coverage to repair or rebuild in case of fire damage. See our Fire Insurance Policy page for more details.
• Hail Damage: Covers repairs for hail-related roof, siding, and window damage. Learn more about Hail Insurance to enhance your coverage.
• Flood Damage: Standard policies do not cover floods. For flood protection, consider adding Flood Insurance to your policy.

Benefits of Homeowners Insurance

• Provides financial protection for unexpected incidents, such as fire, theft, and liability claims.
• Offers peace of mind, knowing that your home and personal belongings are covered.
• Ensures compliance with mortgage lender requirements for property insurance.
• Flexible coverage options, including add-ons for specialized risks like floods, hail, and fire.

Coverage Limits for Homeowners Insurance

Coverage limits in a Homeowners Insurance policy can vary based on your needs and the value of your property. Common limits include:

• Dwelling Coverage: Replacement cost or actual cash value up to 100% of the home’s value.
• Personal Property: Often 50%-70% of dwelling coverage. Valuable items like jewelry or artwork may require additional riders for full protection.
• Liability Coverage: Standard limits start at $100,000 but can go up to $500,000 or even higher with an Umbrella policy.
• Loss of Use: Typically capped at 20%-30% of dwelling coverage, covering additional living expenses during repairs.

Get a Quote: What Information is Needed?

Frequently Asked Questions

• Does Homeowners Insurance cover natural disasters? Many natural disasters, like hail or fire, are covered. However, floods and earthquakes are typically excluded and require separate policies.
• What is Replacement Cost versus Actual Cash Value? Replacement Cost covers rebuilding at current prices, while Actual Cash Value factors in depreciation.
• Are my valuables covered under Homeowners Insurance? Basic coverage applies, but high-value items may need additional riders to ensure full protection.
• What if I need extra liability coverage? Additional liability protection can be added with an Umbrella Policy for greater peace of mind.