Homeowners insurance 101

In our homeowners insurance 101 video, learn about the basics of a home insurance policy.

A standard home insurance policy includes 4 main types of coverage.  

Coverage 1: The structure of your home.

You receive a payout to repair covered damages—like those from a fire, storm, or burst pipe. You can even make a claim for damage caused by falling objects like a tree.

Coverage 2:  Your personal property.

Home insurance protects your personal possessions—like clothes, furniture, or jewelry—if they get stolen or damaged during a covered event, like a wind storm or roof leak.

Coverage 3: Your liability. 

In addition to covering your home and belongings, home insurance protects you from lawsuits. Someone could get hurt on your property or bitten by your dog.

Coverage 4: Additional living expenses. 

Additional living expenses for a hotel stay and meals can save the day you if have to leave your home while repairs are being made.  Some home insurance policies put a cap on the amount of coverage you can get. For instance, there may be a dollar limit on items like cash, jewelry, silverware, and firearms. So be sure to know these limits or restrictions before you need to make a claim.

Expert Blog

Laura Adams is a personal finance expert, award-winning author, and consumer advocate. As Senior Insurance Analyst, she represents insuranceQuotes in the media and works to make sure consumers protect their financial futures by having the right kinds of insurance.

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