Homeowners Insurance: What Does It Cover?
When you’re shopping for homeowners insurance, you probably wonder what exactly your policy will protect. Understanding your coverage helps you make informed decisions about your home and family’s financial security. Let’s break down what homeowners insurance covers and what it doesn’t.
Your homeowners policy typically includes these main types of coverage:
The dwelling coverage protects the structure of your home itself, including built-in appliances and fixtures.
Personal property coverage protects your belongings, such as furniture, clothing, and electronics, typically up to 50-70% of your dwelling coverage amount.
Fire damage is generally covered under standard homeowners policies, but flood damage requires separate flood insurance through the National Flood Insurance Program or a Private Market flood policy. Many homeowners mistakenly believe their regular policy includes flood protection. Water damage from internal sources, such as broken pipes, is typically covered, while external flooding is not.
Here are some items that are covered by homeowners insurance:
- Fire, lightning, and windstorm damage
- Theft and vandalism
• Water damage from burst pipes or appliance leaks - Personal liability incidents on your property
And here are some items NOT covered by homeowners insurance:
- Flood damage from outside of your house (requires separate flood insurance)
- Earthquake damage
- Regular wear and tear or maintenance issues
- Business-related activities
Liability protection is crucial when someone gets injured on your property or you accidentally damage someone else’s property. This coverage handles legal expenses and settlements if you’re sued for bodily injury or property damage. Additional living expenses help cover the costs of temporary housing and meals if your home becomes uninhabitable due to covered damage.
Your personal belongings coverage has limits for expensive items, including jewelry, firearms, art, and electronics. You might need additional coverage or riders for valuable possessions. Make sure your dwelling coverage amount reflects current replacement costs, not just your home’s market value.
At Meixell-Diehl, we don’t believe in setting a timer when it comes to something as precious as your life, your family, or your business. To us, you’re not a number. You’re our neighbor – that’s something that hasn’t changed since 1933.
We’re focused on helping you through life’s most unexpected moments, whether that’s by phone call, text, email, or stopping in for the comfort of a friendly, familiar face. Our agents are continually evolving their insurance expertise to ensure that the policies and prices we offer ultimately align with your life. Contact us today!