Home is where most of us feel safest, whether it’s a house, apartment, townhome or condo. A homeowners policy can help ensure that your home and the contents within are protected when something unexpected happens.
Homeowners Policies Include
Personal Property Coverage
Homeowners insurance can help cover the cost of repairs from a covered damage due to:
- Fire and lightning
- Windstorms and hail
- Smoke
- Freezing
- Theft
TVs, computers, jewelry, fine art, guns, sporting equipment and identity theft can also be covered by homeowners and renters insurance. You may opt for replacement cost coverage for damaged or stolen property to pay for the item’s current market value instead of its depreciated value.
Personal Liability Coverage
Homeowners insurance also provides coverage for injuries that occur on or off your property. This may include bodily injury or property damage that you, your family members or your pets cause to other people.
Typically, your homeowners policy will cover expenses related to property damage, medical payments and personal liability defense claims.
Important Extras
Additional coverage you may want to consider adding to your homeowners policy includes:
- Additional living expenses if you are unable to live in your home
- Repairs to protect your property from incurring more damage after a covered loss
- Debris removal after a covered loss
- Replacement landscaping after a covered loss
- Fire department service charges to save or protect your property after a covered loss
Scheduled Personal Property Coverage
Your homeowners or renters insurance will provide coverage for personal property, but you may want to consider additional insurance for expensive items such as jewelry, electronics and art. You can “schedule” these items separately to provide a higher level of coverage, or potentially raise the limits of your homeowners/renters policy.
Coverage Discounts
Premium discounts may be available if you use the same carrier for your auto and homeowners insurance.
Additional discounts may be available for your home if you have installed approved security and safety measures. Your insurance agent can help you assess possible discounts and other ways to save on your homeowners insurance premium.