Homeowners insurance protects your home and your belongings. An HO3 home insurance policy covers:
Your dwelling (Coverage A)
Your garage, fences, and sheds (Coverage B)
Your belongings (Coverage C)
Loss of use (Coverage D)
Your personal liability (Coverage E)
Visitor medical expenses (Coverage F)
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.
*Original article posted here
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