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 Homeowners insurance provides financial protection against disasters for your home, its contents, and other valuable possessions. Additional coverage options can customize your policy to fit your needs.
The purpose of homeowners insurance is to cover the cost of restoring your home and possessions after a covered loss to the same condition they were in before the loss occurred. There are several different types of homeowners insurance policies that are available and not all coverage types are the same or are available in all states.
You should speak directly with your agent about your specific coverage needs and the options that are available to you.
- Damages to your home's physical structure
- Damages to other structures like garages or sheds
- Your personal belongings, whether they're in your home or elsewhere
- Temporary living expenses in the case your house becomes uninhabitable due to a covered loss
- Your personal liability in the event someone is injured or their property is damaged
You can also select policy enhancements and add-ons such as valuable items coverage, replacement cost coverage for your belongings, extra coverage for your belongings for full replacement costs regardless of depreciation, additional home replacement building costs.
The deductible on your homeowners policy applies to the property portion of the policy. A deductible is the amount you would have to pay out of your own pocket before the insurance coverage takes over. Typically, increasing your deductible reduces the cost of your homeowners policy.
The amount you choose for your insurance deductible depends on how much you are prepared to pay if a covered accident occurs to your home. When choosing a deductible, keep your budget in mind to minimize any impact to your current lifestyle.
Speak directly with your agent about specific deductible options available to you.
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