Homeowners insurance is a form of property insurance that covers losses and damages to an individual's residence, along with furnishings and other assets in the home. Homeowners insurance also provides liability coverage against accidents in the home or on the property.
Homeowners insurance policies generally cover destruction and damage to a residence's interior and exterior, the loss or theft of possessions, and personal liability for harm to others. Three basic levels of coverage exist: actual cash value, replacement cost, and extended replacement cost/value.
Homeowners coverage provides financial protection against loss due to disasters, theft and accidents. Most standard policies include four essential types of coverage: 1. coverage for the structure of your home; 2. coverage for your personal belongings; 3. liability protection; 4. coverage for additional living expenses.
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5002 Example Street
Los Angeles, CA 90034
Available 8:00am - 4:00pm
|COVERAGE TYPE||WHAT DOES IT COVER?||HOW MUCH ARE YOU COVERED FOR?|
|Dwelling coverage||Covers the structure of your home and built-in appliances||Coverage limit should be equal to your home's estimated replacement cost|
|Other structures coverage||Covers detached structures on your property||Usually, 10% of your dwelling limit|
|Personal property coverage||Covers your personal belongings both inside and outside the home||Usually, 50% of your dwelling limit|
|Loss of use coverage||Pays for additional living expenses while your home is being repaired||Usually ,20% of your dwelling limit|
|Personal liability coverage||Pays for legal and medical bills if you're held liable for injury or personal property damage to someone else||Usually between $100,000 and $500,000|
|Medical payments coverage||If a guest is injured in your home, it pays for their medical bills, regardless of who is at fault||Usually between $1,000 and $5,000|