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The Basics of Homeowners Insurance Coverage

Jul 20, 2016

Homeowner Insurance

The Basics of Homeowners Insurance Coverage

Homeowners insurance made easy! Use this guide to understand the basics of your coverage.

As a responsible adult, you’ve probably thought about homeowners insurance. Whether you’re a current homeowner with an insured house (possibly thanks to your lender’s requirements) or a renter ready to own your own property, it’s important that you understand this kind of coverage. And it doesn’t have to be complicated! We’ve put together this succinct guide to help you understand exactly what homeowners insurance does – and doesn’t! – cover.

What it covers:

  • Your liability. Do you ever worry about getting sued? If you have homeowners insurance, you don’t need to lose sleep over the possibility of a lawsuit! Your home policy offers liability coverage, which can step in if someone takes you to court because they think you or one of your family members caused bodily harm or property damage. Yes, your coverage can even extend to the difficult neighbor who’s trying to sue you because he slipped on your steps.
  • Your house. Surprise, surprise; your home insurance covers your home! Work with your agent to make sure you have enough coverage to rebuild your house if it comes to that. The rebuild costs might not be the same as the price for which you purchased your home!
  • Your stuff. Your policy doesn’t stop at the walls and roof. It also insures the stuff you store in your house, up to your policy limits. That means if a fire sweeps through, your policy can help cover the cost of replacing furniture, clothing, décor, and more!

What it probably doesn’t cover:

  • Damage caused by an earthquake. 
  • Damage caused by flooding.

We hope this guide helps you get a clearer understanding of your homeowners insurance, but we know you might still have questions. Contact Tompkins Insurance Agencies to get them cleared up! Our team is dedicated to getting you the policies you need paired with the understanding you deserve. Call us today!

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