Home Insurance Guide

May 19, 2020

Homeowners insurance helps shield you, your home, and your belongings from a number of unforeseeable incidents.

The Standard Policy sets out four key categories of coverage: housing, other services, personal property and liability. However, you should not only protect your home and properties, but also your possessions, yourself, as well as your visitors.

You have always worked hard to provide for yourself and your family. This guide will help you understand homeowners insurance so you can protect what matters most.

What is Homeowners Insurance?

We all know insurance is there to cover any accidents or losses for you and your home, and in turn helps cover the cost to repair or rebuild it in case a tree falls through your roof or a fire breaks out in the kitchen.

It can also cover buildings in the property like garden gazebos or storage sheds. If the damage is bad enough to where it becomes a hazard for you to live in your home, this type of insurance helps cover the costs of temporary housing and living expenses.

Does that also include natural disasters?

Depends on your plan. Standard homeowners policies do not cover damage caused by earthquakes or floods. These damages require additional coverage or separate policies.

What kind of risks does my policy cover?

Depends on where you live, but most standard homeowners insurance policies will pay to repair damage caused by these certain risks, or perils, including:

  • Theft
  • Fire and smoke
  • Windstorm or hail
  • Falling objects
  • Frozen plumbing
  • Water damage from faulty plumbing, broken water heater, heating or cooling systems or appliances.