Homeowners insurance is an essential foundation for protecting your home and property. When looking into homeowners insurance, it’s important to understand what coverages it includes. Generally, there are at least six categories of coverage that come with homeowners insurance:
Dwelling: This covers the physical structure of your home, including the foundation, walls, roof, and attached structures like garages or decks.
Other Structures: This covers any structures on your property that are not attached to your home, such as sheds or fences.
Personal Property: This covers your personal belongings, such as furniture, electronics, and clothing.
Loss of Use: This covers the additional living expenses you may incur if you are unable to live in your home due to covered damage and need to find temporary housing.
Medical Payments: This covers medical expenses for anyone who is injured on your property, regardless of fault.
Personal Liability: This covers legal expenses and damages you may be required to pay if someone is injured or their property is damaged while on your property.
It’s important to understand the specifics of your insurance policy and what it covers to ensure you have the necessary protection for your home and possessions. By knowing the categories of homeowners insurance, you can rest assured that you have comprehensive coverage for your most valuable assets.