What Is Homeowner's Insurance?

Homeowner's insurance is protection for your dwelling, as well as your personal possessions and personal liability.

What is personal liability?
Personal liability is accidental injury to a third party and/or accidental damage to their property. Let's say you have a party and someone slips by the pool, your liability insurance would cover any expenses. If you are trimming your trees and a branch breaks a neighbor's window, your liability insurance would cover the repairs.

What is Dwelling Protection?
Dwelling protection is part of the policy that covers repairs or rebuilding of your home if it is damaged or destroyed by fire, hurricane, hail, lightning or other disasters listed in your policy. Routine wear and tear is not covered under the dwelling protection. The following is a general list of what is covered:

• Theft
• Fire
• Smoke
• Lightning
• Windstorm
• Hail
• Vandalism
• Accidental water damage
• Damage by glass
• Volcanic eruption
• Falling objects
• Weight of ice, snow or sleet
• Water-related damage from home utilities
• Electrical surge damage
• Explosion
• Riot or civil commotion

Floods and earthquakes are not standard. You will need to buy a separate policy or a rider.

What personal belongings will be covered?
Your furniture, clothes, sports equipment and other personal items are covered if they are stolen or destroyed by fire, hurricane or other disasters listed in your policy.

How much homeowner's coverage should I have?
When purchasing coverage for the structure of your home, it is important to buy enough to rebuild your home. Liability limits usually start at about $100,000. But, experts recommend that you purchase at least $300,000 worth of protection. Personal belongings coverage is best determined by completing a home inventory to note exactly what you have. Be sure to indicate all high value items. It is important to consult your licensed insurance agent to learn more about your homeowner's insurance needs.