Homeowners insurance is important for anyone who owns their own home. A home is a major investment, so it is important to adequately insure it to protect that investment. The way to do that is with a home insurance policy.
A homeowner’s insurance policy is a type of property and casualty insurance policy that covers your home against what is known as named perils. The perils usually include fire, theft, and weather damage, among other things. Homeowners policies also offer a certain level of personal liability protection.
If you own your home and live in it full time, then you need a home insurance policy. It is not for people who own a home and rent it to someone else, nor is it the right insurance for people who rent homes they do not own.
Homeowners insurance policies cover your home against a wide range of perils. If you experience one of these named perils, such as damage to your home from wind, you need to file a claim. Your insurance company will then investigate the claim and offer you a payout once it has established the amount of damage minus whatever deductible you might owe.
Home insurance policies are fairly standard, offering property coverage as well as personal liability coverage for events such as someone getting injured on your property. However, policies can vary in their exclusions. For example, some policies won’t cover trampolines, swimming pools, or certain breeds of dog.
The top benefit of a home policy is protecting your home against the possibility of it being damaged or destroyed by a fire or some other event. A secondary benefit is the personal liability coverage portion of the policy, which may even cover some events that occur off the premises.
Secure the BEST