Homeowners insurance provides financial protection against disasters and a standard policy insures the home itself and the things you keep in it.
Homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets.
Damage caused by most disasters is covered but there are exceptions. The most significant are damage caused by floods, earthquakes and poor maintenance. You must buy two separate policies for flood and earthquake coverage. Maintenance-related problems are the homeowners’ responsibility.
More information on Home Owner and Renter’s insurance from the Insurance Information Institute – III.org
Please keep in mind that all policies are different and vary from state to state. Contact your insurance agency for up-to-date information about your particular policy and what it covers.
- What coverage is included in a standard homeowners insurance policy?
- Are there different types of policies?
- Does My Homeowners Insurance Cover Flooding?
- What types of disasters are covered by my homeowners insurance?
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