If your home is damaged or destroyed due to a covered event, it will be repaired or replaced. Simple as that. For most of us, our home is our single biggest investment. Homeowners insurance provides coverage for personal belongings and the dwelling or structure on the property, as well as liability coverage to pay for bodily injury and property damage.
What is covered?
Your house and separate structures are covered for various types of damage, subject to common exclusions such as wear and tear, earth movement, earthquake, flood, water damage and nuclear hazard. In addition, attached structures and wall-to-wall carpeting are covered. Separate structures on your property other than those used for business purposes (such as a detached garage or tool shed), are covered up to 10 percent of the coverage on your house. Higher limits are available for additional premium.
