Home insurance, also commonly called hazard insurance or homeowner’s insurance (often abbreviated in the real estate industry as HOI), is the type of property insurance that covers private homes. It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one’s home, its contents, loss of its use (additional living expenses), or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory. It requires that at least one of the named insureds occupies the home.
The dwelling policy (DP) is similar, but used for residences which don’t qualify for various reasons, such as vacancy/non-occupancy, seasonal/secondary residence, or age.
It’s Your Home– Make Sure It’s Covered
Home is where your heart is – along with a healthy chunk of your net worth. Your house is one of your most important investments, so be sure to protect it with a homeowners insurance policy. I can help you get great coverage at great rates through one of they many insurance providers I work with.
What Does Homeowners Insurance Protect?
Each home insurance policy is different, but standard policies usually provide:
- Broad coverage for damage to your house and any permanent structures on your property (unless the cause of the damage is specifically excluded in your policy.)
- Damage to your personal property due to causes specified in your policy.
- Limited coverage which is available for items like stolen jewelry. Coverage amounts vary depending on your state of residence.
- Additional coverage for valuable items which can be purchased through endorsements to your homeowners policy.