What Is Homeowners Insurance?
A homeowners insurance policy provides valuable protection for your home. It typically combines two types of coverage:
- Liability exposure — This provides coverage if someone is injured on your property
- Property damage — This provides coverage if your property is destroyed or damaged by perils such as theft, wind, storms and fire
In the event of a covered peril, your insurance can pay for the destruction as well as your losses.
What Perils Does Homeowners Insurance Cover?
The types of perils that are typically covered by homeowners insurance include:
- Lightning
- Theft
- Vandalism
- Windstorms
- Hail
- Fires
Hazards such as floods and earthquakes are not covered by most standard policies, but it may be possible to obtain additional coverage option if these disasters are a concern.
Types Of Homeowners Insurance Coverage
Here is a closer look at the different types of coverage that are built into a typical home insurance policy.
Dwelling Coverage
This protects your home structure, along with any built-in appliances and wall-to-wall carpet, from damage. “Dwelling” refers to the entire structure of your home as well as any structures that are connected to it, such as attached garages or cellars. If your home is damaged by a covered peril, it will cover repairs or rebuilding.
Personal Property Coverage
This protects the personal belongings you keep in your home, such as electronics and furniture, in the event that they are destroyed or damaged by a covered loss.
Liability Coverage
This could cover the damage to costs stemming from bodily injuries guests sustain on your property as well as other covered expenses arising from negligence. This may pay for the affected individuals’ medical bills, pain and suffering, and loss of income, as well as your legal defense costs if a dispute arises.
Other Structures Coverage
Coverage for other structures applies to structures on your property that aren’t attached to the dwelling itself. For example, if unattached structures like garages, guest houses or sheds are damaged by a covered peril, other structures insurance may cover the costs.
Loss Of Use Coverage
If you need to move out of your home temporarily because of a covered loss, this coverage can provide you with housing and living expenses such as a hotel or temporary apartment while your home is being repaired or rebuilt.
Talk To The Homeowners Insurance Professionals At Burton & Company
Your home is one of the biggest investments you’ll make in your lifetime, and it holds years of memories. Protect your investment with a home insurance policy from Burton & Company by calling (888) 652-1325 or requesting a quote online today. Our professionals can help you find a policy that gives you the coverage you need at the right price.
