Homeowners insurance
Homeowners insurance basics
Homeowners insurance is a type of property insurance that covers losses or damages to your primary residence, contents, and more. The policy typically also provides liability coverage against lawsuits brought against you. Homeowners insurance is not mandatory unless your mortgage provider requires it.
Homeowners insurance coverage options
Dwelling
Coverage for the main structure including the foundation, drywall, and roof. Sometimes referred to as ‘Coverage A’ in your policy.
Contents
Coverage for your appliances, furniture, etc. Sometimes referred to as ‘Coverage C’ in your policy.
Liability
Coverage including defense costs & settlements from lawsuit. Sometimes referred to as ‘Coverage E’ in your policy.
Loss of use
Coverage that reimburses you for additional living costs incurred while your home is damaged and unlivable. Sometimes referred to as ‘Coverage D’.
Other structures
Coverage for your structures not connected to the main dwelling. May include fences, sheds, detached garage, etc. Sometimes referred to as Coverage B’.
Flood & Wind
Specialty coverage that enhances the policy to include damage caused by these perils.
