What Does A Typical Homeowners Insurance Policy Cover?

When you buy a home, you’re making a significant long-term investment, one that you will want to protect as much as possible. Having homeowners insurance is an essential product for any homeowner, providing protection for your home, as well as your belongings.

Understanding what a typical homeowners insurance policy covers will help make sure you choose the right product for your home, ensuring you’ve got the right type of cover for your needs.

Learn more about homeowners insurance policies to help you feel more informed.

What is covered by homeowners insurance?

Homeowners insurance can be very comprehensive, covering different aspects of your home. From the build and structure to the contents of your home, your insurance is there to cover you against different types of loss and damage.

Cover for your home’s structure

If your home is damaged as a result of fire, hurricane or other types of disaster, then your insurance will cover you for the repairs. It can also cover you for any outbuildings such as a garage, gazebo, tool shed or other structure.

It’s important to look at the structural coverage for your home carefully. General homeowners insurance policies will not cover you against floods or earthquakes. If this is a concern for you, you might need to consider adding additional coverage to your policy.

When insuring your home, you’ll want to cover it for the cost of rebuilding your home should it come to it – this can be useful guidance for choosing your policy.

Cover for your personal belongings

If your personal belongings are stolen, or damaged as a result of fire and other disasters, they will be covered under your insurance. If you need to make a claim for your personal belongings, your policy will cover them to be repaired or replaced.

Your policy can apply to individual valuables within your home, including jewelry, watches, art, etc. In most cases, there will be an upper limit on individual items, which you should check within the terms of your policy.

When choosing your insurance policy, you’ll need to choose how much you want to be insured for. An inventory of your personal belongings can help you determine this.

Some policies will also cover your belongings for when they are away from your property, such as in your purse. Check this within your policy to make sure you’re covered when you travel, you may need separate travel insurance to cover the value of your personal belongings.

Liability protection

Liability protection can help cover the legal costs if you or someone within your household (including your pets), injures another person or causes damage to personal property.

It can also cover you if someone who doesn’t live with you injures themselves while on your property. This type of ‘no-fault’ medical coverage means the injured party can claim their medical costs through your insurance, instead of having to make a legal claim.

Your liability protection will cover you for the cost of legal help, as well as any costs you have to pay in court.

Additional living expenses as a result of being forced out of your home

If your home needs significant repair or rebuilding after a disaster, you might need to live elsewhere for a while. Additional living expenses can help cover you for the cost of a hotel stay, for food and other necessities while your home is being worked on.

Additional living expenses typically have a limit, that will cover you for a certain number of days. This limit will be separate from the cost of repairing or rebuilding your home.

What homeowners insurance doesn’t cover

While homeowners insurance covers your home and belongings in case of many events, there are certain areas your policy won’t cover. These include ‘acts of God’ or natural disasters. It’s important to work out what your insurance will and will not cover you for, as you may wish to add further riders to your policy. You could also consider taking out separate insurance against flooding and other types of damage if you think your home is at risk.

Homeowners insurance won’t cover you for your own medical bills as the result of an accident, nor your vehicle. You will need separate medical and auto insurance to cover you for these things.

Always check the finer details of your insurance policy to make sure you know exactly what’s covered and what isn’t. It’s also important that you check your policy regularly and update your details to ensure you always have the right level of cover.


Choosing homeowners insurance with LSI Insurance

Homeowners insurance can cover your home and belongings against a lot of incidents, making it a necessary purchase for your home. It’s important to put your trust in the right insurance company to help make sure your most valuable possessions are covered.

LSI Insurance provides a range of insurance products to both businesses and individuals. Founded by Jim O’Connor in 2016, LSI Insurance is a company built on more than 35 years experience, and provides access to dozens of insurance companies and resources to clients through the Strategic Independent Agency Alliance. Based in Detroit, we serve a wide range of clients with their insurance needs.

With LSI Insurance, you can rest assured that you’ll find the right homeowners insurance coverage for your needs. As one of your most important assets, it’s vital that you protect your home. Finding the right cover and making sure it’s enough for all of your valuables can be hard work. LSI can help.


Contact us today

If you’re interested in finding out more about LSI homeowners insurance products, contact us today. We can help you find the right solution to your needs and answer any questions you have about what your policy covers!

Give your home the right protection by choosing homeowners insurance with LSI Insurance today.