What Does Homeowners Insurance Cover?
The most common question homeowners ask is "what does homeowners insurance cover?" Sure, you're protecting yourself financially in the case of disaster, but what exactly will you be able to file a claim for? Use the coverage guide below to see what’s covered in a standard policy.
Structural Coverage
Structural coverage is the most basic aspect of your home insurance. This is the coverage that pays for you to repair or rebuild your home after a fire, storm or other disaster that is listed as part of your policy.
Homeowners Insurance Tips: Structural Coverage
- The coverage amount you choose should be enough to rebuild your home.
- Structural coverage is simply referring to the basics of your home - anything that's not nailed down won't count.
Outside/Additional Structures
Additional structure coverage is what protects you financially in the event that an outside structure, such as a detached garage, is damaged in a covered event.
Homeowners Insurance Tips: Additional Structures
- Structures that aren't part of your home itself, like detached garages, won't get the same amount of coverage your main structure gets, but a standard policy will cover these to an extent.
- Typically carriers will cover you for an equivalent of around 10% of your dwelling coverage. So if you have a home that is insured for a value of $150,000, you may find that your detached garage is covered for claims up to $15,000.
Personal Belongings
A standard homeowners insurance policy will provide coverage for a certain amount of personal possessions in your home.
Homeowners Insurance Tips: Personal Belongings
- Carriers estimate that the contents of your home have a coverage value of 50 - 70% of the value of the home itself. You can expect standard personal belongings to be covered for that amount. So if you have a home that's covered for up to $150,000 then you may see personal belongings coverage from $75,000-$110,000.
- With this in mind, if you have any items that are of particular value, such as furs, jewelry or antiques, you should consider additional riders to account for these items in the event that they are damaged in a covered accident.
Homeowners Insurance: Guide to Discounts
Discounts vary depending on insurance carrier and state, among other things. The truth is, there are so many factors that go into determining your premiums that you'll find it difficult to get reliable quotes online - no matter what a website may tell you.
Use this site as a guide to compare homeowners insurance and then simply call the number above to speak to an expert. We can connect you with multiple carriers and discounts near you. It is the fastest and most efficient way to shop for multiple providers and to get real, solid quotes on the coverage you need.
