Homeowners insurance: A basic guide to coverages

by Claire Rainville 01/15/2024

Homeowners insurance featured image with picture of homeowners insurance document

For many, homeowners insurance is a necessity. It offers financial protection for your home, and understanding coverages can help you pick a policy best fitting your needs. 

What's not covered by my insurance?

It’s essential to note, homeowners insurance doesn’t cover every peril that can potentially harm the structure of your property. For example, most policies don’t cover termite damages, as this is seen as something preventable by the homeowner with proper maintenance.  Some perils such as earthquakes and floods need to be covered under separate policies. 

What is covered by homeowners insurance?

Homeowners insurance typically offers liability coverage, dwelling coverage and coverage to personal property. 

Homeowners insurance offers financial protection against these standard perils: 

  • Theft.
  • Fire.
  • Hail. 
  • Wind damage.
  • Ice damage.
  • Damages from public commotion.
  • Etc.

Is homeowners insurance necessary?

Homeowners insurance isn’t a requirement - however, accidents frequently happen nationwide, and by purchasing a homeowners insurance policy, you add an extra level of security over your assets. 

For example, a kitchen may be damaged by a fire. Home insurance would kick in after the deductible is paid to help pay for repair costs. In addition to paying for repairs, the policy type may also cover moving the policyholder and their household into temporary lodging as the structure of the home is being restored.

Consider examining the needs of your home and speak with a local insurance representative to  understand what your coverage options are. They can help you choose a policy offering the best benefits for your home and belongings. 



About the Author
Author

Claire Rainville

I have been conducting business in this local area for 20 years as a full-time real estate broker. My priority as a real estate broker is to ensure my client’s satisfaction through providing them top-class service specifically catered to their individual needs. As your agent, I will effectively communicate with other parties involved in your transaction to ensure the purchase or sale of your home/land/investment property goes smoothly. I use my high-touch philosophy and high-tech resources to attractively market my listings as a seller’s agent, and will proactively use my connections as an experienced real estate broker to find my clients’ their dream home. I am also available via phone, email or text messaging to accommodate my clients’ various schedules and/or preferred mode of communication.