Homeowners Insurance: how to protect your biggest investment
Homeowners insurance is a bundle of coverages (into a single policy) that can protect homeowners from unforeseen damage or loss from events such as weather, theft or vandalism. It provides relief in the form of cash or replacement of the contents of the home and the structure itself. It provides liability coverage against claims from others that may have been harmed on your property. It also provides coverage for the use of the home, as well.
Is Homeowners insurance required by law?
What does Homeowners Insurance cost?
The costs of homeowners insurance depend on a number of factors, including the coverages you select, features of your home and the value of your personal belongings. There may also be extra costs for additional coverage or increased coverage limits.
Covered perils
Basic-form covered perils:
- Fire
- Lightning
- Windstorm or hail
- Explosion
- Smoke
- Vandalism
- Aircraft or vehicle collision
- Riot or civil commotion
Broad-form covered perils:
- All basic-form perils
- Burglary, break-in damage
- Falling objects (e.g. tree limbs)
- Weight of ice and snow
- Freezing of plumbing
- Accidental water damage
- Artificially generated electricity
Special-form excluded perils:
- Ordinance of law
- Earthquake
- Flood
- Power failure
- Neglect
- War
- Nuclear hazard
- Intentional acts
What is property insurance?
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