What Does a Homeowner’s Policy Cover?

This is one of the few important questions you would need to ask when looking to buy homeowner’s insurance policy. While there are several variations of this policy, a standard homeowner’s policy would cover all costs relating to…

Homeowners insurance

Damage to Your House

So avoid any misunderstanding, this covers damages to both the exterior and interior of your house. Simply put, if you house is involved in any form of damaged caused by vandalism, fire, hurricanes, and all stated damages, the insurance company will pay for the damage. The extent to which payment will be made would depend on the amount paid in premium. There are some damages that are not covered by a standard homeowner’s policy. Flood and earthquakes are usually not covered.

Damage to Your Personal Belongings

If the same covered damages destroy your personal belongings like furniture, clothing, appliances, and other stated personal belongings, then your insurer will pay for the damage. When the personal belongings become expensive – like jewelries – you may need to pay more in premium to get it covered.

Personal Liability

The policy covers damages caused to others by you or any member of your family covered by the policy. The possibility of this occurring is so high. Insurers usually pay more claims from this. For this reason, you should expect the premium to be higher if the insurer perceives the possibility of getting claims filed is high.

Rental Cost

In the event your home is damaged or being repaired, it won’t be possible for you to live in the house at that time. It would also be paramount that you get protection and safety in another shelter. This part of the policy will reimburse all the cost you accrued in your temporary shelter.


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