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Home Insurance Overview
If you’re looking to buy a home, there’s a good chance you’ll also need homeowners insurance. Having home insurance is a great way to protect one of your most expensive personal assets and it’s often required by many states.
When trouble strikes, homeowners insurance can safeguard your home and possessions, assisting with restoration or repairs if damage or loss occurs. The right insurance can lessen the impact of any financial stressors associated with these losses and can provide peace of mind when you need it most. We save customers an average of $510* per year on auto and home insurance. Let us help.
Homeowners Insurance May Protect You From
- Water damage
- Fallen tree(s)
- Damage from weather
- Leaking, frozen and burst pipes
- Fire
- Theft
- Personal injury occurring on your property
- Water damage
- Fallen tree(s)
- Damage from weather
- Leaking, frozen and burst pipes
- Fire
- Theft
- Personal injury occurring on your property
What does a homeowners policy cover?
There are different types of homeowners insurance policies to protect you, your home and your possessions from unexpected damage or loss.
Four Basic Types of Home Insurance
Dwelling
Dwelling coverage is a main component of a home insurance policy that can help pay to repair or rebuild the physical structure of your home in the event of a loss in which you have no control, including fire, wind, theft, and vandalism. It can also cover garages and other detached structures on your property.
Personal Property Coverage
Personal property insurance coverage can cover belongings such as furniture, clothing, sporting goods or electronics, in the event of a covered loss (whether they get damaged at your home, apartment or anywhere else).
Personal Liability
Personal liability insurance is financial protection for you and your family and provides coverage for bodily injury and property damage sustained by others for which you or covered residents of your household are legally responsible.
Loss of Use & Additional Living Expenses
This type of coverage will pay for your lodging, meals, animal boarding and other expenses (up to a limit) in the event that you are unable to stay in your home due to a natural disaster or other unpredictable events over which you have no control.
Home Insurance Deductibles and Limits
Your home insurance deductible is what you pay before your insurance coverage kicks in. Insurance companies consider those who are willing to pay a higher deductible less of a risk to insure, therefore, paying more upfront could lower your premium.
Your home insurance coverage limits (or the amount of homeowners insurance you buy) starts with your dwelling coverage. The limits for the other standard coverages in your homeowners policy are typically calculated as percentages of your dwelling limit.
Common Home Insurance Questions
Q: What does a home insurance policy NOT cover?
A: While homeowners insurance differs from state-to-state and person-to-person, damage from natural disasters such as earthquakes, tornadoes and floods is typically not covered. There are a number of other cases your home insurance might not cover, in which we’d recommend looking into an add-on for your existing policy. Learn more about where there are gaps in your insurance and how your policy might be affected by region.
Q: Do I qualify for any home insurance discounts?
A: There’s a good chance you qualify for discounts. A few examples include bundling auto and home insurance, long-time loyalty to a carrier, a history of no claims, choosing a higher deductible or paying in one lump sum. Learn more about your opportunity for discounts.
Q: How do I get homeowners insurance?
A: There are so many types of home insurance, it’s crucial to shop around. At SelectQuote, we’ll do it for you in just minutes and can provide an unbiased price comparison from many of the most trusted home insurance companies
