Home » What Is Homeowners Insurance?
December 15, 2022
Jennifer Widera

What Is Homeowners Insurance?

Homeowners Insurance is meant to help when a catastrophic event occurs that damages or destroys your home. A homeowners insurance policy covers everything from the actual structure of your home and other structures on your property to your personal belongings.

Let’s take a look at what homeowners insurance helps protect you from, what it covers, how the price is determined and which components create it.

What Is Homeowners Insurance?

Homeowners insurance coverage protects you and your home against a variety of life’s uncontrollable events that cause damage or destruction to your home and personal belongings. It provides peace of mind and financial relief if something were to go wrong and offers protection for you and your biggest investment.

It’s the last line of defense designed to protect you and your biggest investment by compiling a variety of coverages into a single policy to make sure you’re not held financially responsible for many things life throws your way.

What Does Homeowners Insurance Cover?

Homeowners insurance covers your home’s structure, any unattached structures on your property, your personal belongings kept in your home and on your property, reimbursements for additional expenses incurred when your home is deemed uninhabitable, medical payments for major and minor injuries, legal expenses due to an injury on your property and damage you may have caused to another person’s property.

What Does Homeowners Insurance Not Cover?

As with the many things homeowners insurance covers, there are also many things it doesn’t cover. Each homeowners insurance policy comes with a list of covered perils to help you determine which events are not covered by your policy. Some of these exclusions in a homeowners insurance policy include nuclear war, sinkholes, floods and earthquakes. There are many different types of homeowners insurance policies, so each policy’s coverage limits and covered events are a little different.

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