Overview of Homeowners Insurance
Your typical homeowners insurance policy covers six categories:
- Dwelling
- Other Structure Coverage
- Personal Property
- Loss of Use
- Personal Liability
- Medical Payments
Coverage Details
- Dwelling: Protects your home from accidental and environmental damage.
- Other Structure Coverage: Covers detached structures like fences and garages.
- Personal Property: Covers loss or theft of possessions.
- Loss of Use: Pays for temporary housing if you cannot live in your damaged home.
- Personal Liability: Covers liability for injuries to others on your property.
- Medical Payments: Covers guests’ injuries.
What Homeowners Insurance Typically Covers
Generally, homeowners insurance covers:
- Damage to your home from fire, wind, or hail.
- Theft of personal property.
- Liability for injuries to others on your property.
- Living expenses if you cannot occupy your home due to damage.
Exclusions
Homeowners insurance typically does not cover:
- Termites, mold, wear/tear damage.
- Damage from earthquakes.
Levels of Coverage
- Actual Cash Value
- Replacement Cost
- Extended Replacement Cost/Value
Categories Covered
Six categories are typically covered:
- Dwelling
- Other Structures
- Personal Property
- Loss of Use
- Personal Liability
- Medical Payments