What homeowners insurance commonly covers
A homeowners policy commonly combines several kinds of protection. Exact terms depend on the policy form, endorsements, exclusions, limits and state rules.
Other important components
Policies may include coverage for other structures, certain additional living expenses after a covered loss, and medical payments to others. Some property categories may have special sublimits.
Replacement cost vs. actual cash value
How a policy values covered property can materially affect a claim payment. Replacement-cost provisions and actual-cash-value provisions work differently, and policy-specific conditions apply.
What may require separate protection?
Standard homeowners policies may not cover every type of loss. Flood, earthquake and other risks may require separate policies or endorsements depending on the property, location and insurer.
How to compare home insurance
- Compare equivalent dwelling and liability limits.
- Review deductibles, including any separate deductibles that may apply.
- Check how personal property is valued.
- Review exclusions and endorsements.
- Ask about discounts such as eligible home-and-auto bundling where available.
Compare Carefully, Not Just Cheaply
Use the same limits and deductibles when comparing options so the prices are meaningful.
Read Home Coverage GuidePolicy forms and coverage rules vary. Review official policy documents and consult a licensed professional for advice about your property.