What is Homeowners Insurance?
Homeowners insurance is a type of property insurance that covers both the physical structure of your home and your personal belongings against specified perils. It provides financial protection in the event of damage or loss due to fire, theft, vandalism, natural disasters, and certain liabilities.
Types of Coverage
Dwelling Coverage: This is the core component of homeowners insurance, covering the structure of your home and attached structures (like a garage) against damage from covered perils.
Personal Property Coverage: Protects your belongings (furniture, electronics, clothing, etc.) from theft, vandalism, fire, and other covered incidents, even when they're not within your home.
Liability Coverage: Provides financial protection if someone is injured on your property or if you inadvertently cause damage to others' property.
Additional Living Expenses (ALE) Coverage: Covers costs for temporary relocation if your home becomes uninhabitable due to a covered loss.
Medical Payments Coverage: Pays for medical expenses if someone is injured on your property, regardless of fault.
