Home Insurance FAQ's

Your home is more than just a structure where you live. It's where you and your family keep safe from Mother Nature's sometimes not so pleasant surprises. It's where you raise your children and create long-lasting memories. It's where you keep warm during those cold winter months. Your home is your protector so that's why it's extremely important to have it covered by a comprehensive home insurance policy through a well-respected insurance company. There are several top-rated companies to choose from whom all offer excellent home insurance policies. But where do you begin? Start by asking questions and learn more about purchasing a home insurance policy that's right for your needs. Below are some of the most common questions consumers ask:

What does a standard homeowner's policy cover?

• Structures: A homeowner's policy protects the structures on your property. It protects against damage to your home and ensures that you will have sufficient funds to repair or rebuild your home in the event of a loss. Most policies are written on a replacement cost basis.
• Personal Property: Furniture, televisions, cameras, computers, clothing, dishes, and silverware are probably just some of the personal belongings you own in your home. A properly designed and written homeowner's policy will often provide coverage for all of your personal effects and up to a certain percent of what your dwelling is insured for.
• Personal Liability: If someone is injured on your property, personal liability coverage helps keep their misfortune from becoming yours. It also covers you against other claims against you for accidents on your property. Make sure you're carrying the maximum amount of liability coverage available because accidents do happen and lawsuits are on the rise. For even greater liability protection, ask about a Personal Liability Umbrella.
• Loss of Use: In the event you have a severe enough claim whereby your home is deemed unlivable, your homeowner's policy will often provide you funds to allow you to rent a house or hotel room while the repairs are made. It will also provide coverage for food and clothing if necessary.
• Medical Payments: If someone is injured on your premises this coverage helps to pay for medical expenses that you might be held responsible for.

What does replacement cost mean?

Replacement cost pays to replace your home and/or personal belongings without a deduction.

Is my home covered in the case of an earthquake?

Most home insurance policies do not automatically provide coverage for earthquake. It's usually an endorsement that is added on to the homeowner's insurance policy for an additional cost.

Is my home covered in the case of a flood?

Flood insurance is sold separately and not all home insurance companies offer this type of policy.

Do I have to buy home insurance?

You aren't legally required to have home insurance like you are car insurance. However, if you finance your home through a mortgage company, they will require you to have some kind of insurance policy. Even if your home is paid in full, it's wise to have home insurance to protect your investment.