Homeowners insurance protects your house and personal possessions. It is an important one of the most important aspect when it comes to protecting your home. This coverage provides protection both inside and outside of your home.
What is homeowners insurance?
Homeowners insurance compensates you for losses to your home and your possessions inside it, so
purchasing a homeowners insurance policy provides added security for your investment. Homeowners insurance also protects you if you're legally liable for someone's injuries on your property, as well as from financial losses caused by storms, fire, theft and other events outlined in your policy.
Different companies offer different homeowners insurance coverage, so choosing the right policy means finding the right mix of coverage to meet your need.
Generally, a standard homeowners insurances. policy protects the following:
Often, for an additional fee, you can select optional homeowners insurance coverage, including:
To make shopping for the right homeowners insurance policy easier, take an inventory of what you own to decide what level of coverage makes you comfortable. Once you know your coverage level, get a homeowners insurance quote and choose the policy that's right for you.
What about townhouses?
If you own a townhouse, you can insure it with a homeowner’s insurance policy or an association master policy, depending on your situation. Some townhouse associations have master policies, in which case you should purchase a tenant homeowners insurance policy to insure your personal property. Other townhouse associations do not have master policies, which is when you should purchase a homeowners insurance policy for your unit. Check with your association to determine which type of policy you should purchase for your townhouse.