Coverage guide
Home Insurance
Homeowners insurance commonly protects the dwelling, other structures, personal property, loss of use, personal liability, and medical payments, with separate policies or endorsements for some perils.
What it covers
- Dwelling
- Other structures
- Personal property
- Loss of use
- Personal liability
- Medical payments
Who commonly researches it
- Homeowners
- Borrowers with a mortgage
- People with meaningful personal property or liability exposure
When people commonly buy
- Before closing on a home
- Before renovating
- After changes to rebuild cost or belongings
Coverage considerations
- Dwelling limits should reflect rebuild cost
- Flood and earthquake often require separate coverage
- Replacement cost and actual cash value differ
Common exclusions
- Flood
- Earth movement
- Intentional acts
- Maintenance issues
- Some sewer or drain backup without endorsement
Cost factors
- Rebuild cost
- Age and materials
- Roof condition
- Claims history
- Location and catastrophe risk
Comparison checklist
- Compare dwelling valuation method
- Ask about wind, hail, flood, and earthquake
- Check loss-of-use limits
- Review deductibles by peril
FAQ
Does home insurance cover flood?
Standard homeowners policies commonly exclude flood. Consumers in flood-prone areas should evaluate separate flood coverage.
Should I insure for market value?
Dwelling coverage is commonly based on the cost to rebuild the home, which can differ from the market value or loan balance.