What Is Homeowners Insurance?

By Kin

What Is Homeowners Insurance?
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Homeowners insurance protects your home and your belongings. An HO3 home insurance policy covers:

In exchange for your premium (the price of your policy), your insurance provider pays for certain damages, sparing you from a large bill when disaster strikes.


Let’s see how home insurance works in more detail.


Your Home Insurance Policy at a Glance


Coverage A - Dwelling Coverage


The dwelling coverage portion of a standard homeowner's insurance policy pays for repairing or rebuilding your home's physical structure such as walls, floors, roof, windows, support beams, and foundation if your home is damaged by a covered event. (Fire, theft, wind, ect.)


Coverage B - Other Structures insurance


Home insurance also covers other structures on your property: your detached garage, fence, your pool, and more.


Coverage C - Personal Property Coverage


Personal property coverage protects your stuff - things like electronics, furniture, and clothing - anywhere in the world.


Coverage D - Loss of use insurance


If a covered claim makes your home uninhabitable, your policy can help pay for extra living expenses, such as lodging, food costs, and more.


Coverage E - Personal Liability Insurance


Even careful people get sued! Personal liability coverage can help pay for your legal expenses if you're held responsible for another person's injury or property loss.


Coverage F - Medical Payments Insurance


Medical payments coverage, which is part of your homeowners' insurance, can help pay for your guests' immediate medical expenses if they're injured at your home.

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*Original article posted here


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