A: Homeowners insurance is an insurance policy that protects your home financially in the event of a disaster or accident that may occur on your property and in your home.
Fires, hurricanes, wind damage, oh my! While no one plans on losing their home to any of these perils, it unfortunately happens every day. Ask yourself this: If your home was ever destroyed because of a fire, wind damage or hail, for example, how would you pay to rebuild your home? That’s where your homeowners insurance comes in. Homeowners insurance protects the investment you have made in your home by providing you with coverage for specific hazards.
But your home insurance doesn’t stop there. In the event that someone was filing a lawsuit against you for accidental damage you caused to their property, how would you pay for the costly legal fees? Standard homeowners insurance also contains a liability portion that protects you and your family against lawsuits where another party finds you liable for damage to their property or person.
All in all, standard home insurance covers the following:
- Coverage A- Dwelling
- Coverage B- Other Structures on Your Property
- Coverage C- Personal Property/Contents
- Coverage D- Loss of Use
- Coverage E- Personal Liability Protection
- Coverage F- Medical Payments
Have other questions about home insurance or how to get started? Visit our FAQ page to see questions that have been posted by our customers. Or- post a question that you would like to see answered! Want to speak with one of our licensed agents? Enter your phone number here and one of our agents will call you. Or call an agent directly at 1-877-50-MyHome.
Last Updated: August 1, 2008 9:16 AM EST
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