Homeowners Insurance

Homeowners insurance is a type of property insurance that covers losses and damages to an individual’s house and assets in the home. It also provides liability coverage against accidents in the home or on the property. When you have homeowners insurance, it generally covers:

Structural Damage: Pays for repairs to the home if it is damaged by things like fire, storms, or vandalism.
Personal Property: Covers the cost of replacing belongings like furniture, electronics, and clothing if they are stolen or destroyed in a covered incident.
Liability Protection: Protects you financially if someone is injured on your property and you are found legally responsible.
Additional Living Expenses (ALE): If your home is too damaged to live in during repairs, this part of the policy covers temporary living costs.

The policy is typically a package policy, meaning it includes both damage to the property and liability or legal responsibility for any injuries and property damage policyholders or their families cause to other people. This includes damage caused by household pets.

Coverage limits and what is exactly covered will vary based on the specific policy, so it’s important to understand the details of your insurance contract.