Home Insurance Q&A

What does homeowners insurance cover?
Homeowners insurance provides protection for your home, personal property such as furniture, clothing, appliances as well as personal liability. It protects you from a variety of events: a fire, explosions, lightning, vandalism, burglary, storms, and more.

What's the right amount of insurance for my home?
Your coverage should match the value of your home. Homeowners insurance can not cover the land your home is on, only the structure. That means that the insurance amount could be less than the purchase price or loan amount.

What is replacement coverage?
Replacement coverage is in the event of a loss, the insurance company will pay what it costs to replace the property at the current market prices.

Does my homeowners insurance cover my personal property?
It will also cover the personal property you own as well as the structure. Your clothing, furniture, appliances, and other belongings will usually be insured up to a maximum amount.

What about special items such as artwork, jewelry, etc.?
A homeowners insurance policy will frequently limit coverage on some special items artwork, jewelry, coin collections, etc. Homeowners who need additional coverage for these types of items may purchase additional coverage.

What about flood insurance?
If your property is officially designated as being in a special flood hazard area, you must obtain flood insurance. While the federal government provides most flood protection, you are responsible for applying and obtaining this coverage. It's important to know that flood insurance is not included in a standard homeowners policy. Even if your home is not in a special flood hazard area, you may wish to consider whether you need flood insurance.