Homeowners Insurance provides a highly versatile tool for insuring real property and personal property owned by individuals or families, as well as their personal liability exposures. It is a contract between you and the insurance company. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy.

Available Coverages: A homeowner's policy is designed to be broad enough to cover the property and liability insurance needs that most families face. Catastrophic perils, such as earthquake or flood are not generally covered on a standard homeowner.s policy but can be purchased separately. The following is a general description of coverage as there are variances between different companies. coverage.


• Dwelling - applies to the dwelling on the "residence premises" listed on the policy declarations. This also applies to structures attached to the dwelling, such as a garage or a deck. The dwelling amount listed on the policy should be the reconstructive replacement cost to reconstruct the dwelling.
• Other Structures - applies to structures not attached to the dwelling. This is usually a detached garage, fence, sheds or gazebo.
• Personal Property - applies to the policyholder.s personal property anywhere in the world. This includes items that the policyholder owns or uses. There are limitations to theft of certain types of items, such as jewelry, furs, silverware, goldware, firearms, etc.
• Loss of Use (Additional Living Expenses) - applies to the policyholder.s exposure to financial loss, apart from the property damage itself, if the residence premises where the insured resides is damaged so badly that is not fit to live in.
• Personal Liability - Coverage is provided if a claim or a suit is brought against and insured because of bodily injury or property damage allegedly caused by the insured. Coverage includes defense costs.
• Medical Payments to Others - covers the necessary medical expenses incurred by others (not an insured). Coverage does not imply negligence.
• Discounts - depending on the company you choose, you may be eligible for these discounts:
• Multi-policy or Account - if other insurance coverage (such as auto) is secured by the same company, a discount may apply to both policies.
• Alarm - homes that include alarm systems for burglary or fire (local or central station) may be eligible.
• Newer Home or New Purchase - Newly constructed homes and newly purchased homes tend to present fewer losses.