Homeowners insurance
provides property coverage for your house and personal belongings and protects the owners and residents from liability claims.
Property insurance section covers : dwelling, garage, and personal belongings. Property coverage is valued on replacement cost basis.
Covered perils include: fire, lightning, windstorm, hail, explosion, vandalism, and theft. High-value and/or unique items, such as jewelry and musical instruments, are
often insured for a specific stated value (generally based on an appraisal).
The Personal Liability section covers: the payment of damages and defense costs .
The Medical Payments to Others section of the policy covers: medical expenses incurred by persons (other than the insured’s) for injuries caused by the premises or an
insured’s actions, regardless of legal liability.
The replacement cost value, type of construction, and geographic location of your home greatly impacts the Homeowners policy premium.
You can qualify for Homeowners premium discounts by having a fire alarm, smoke detectors, etc.