Homeowners Insurance: how to protect your biggest investment

Homeowners insurance is a bundle of coverages (into a single policy) that can protect homeowners from unforeseen damage or loss from events such as weather, theft or vandalism. It provides relief in the form of cash or replacement of the contents of the home and the structure itself. It provides liability coverage against claims from others that may have been harmed on your property. It also provides coverage for the use of the home, as well.

Is Homeowners insurance required by law?

Covered perils

Basic-form covered perils:

• Fire
• Lightning
• Windstorm or hail
• Explosion
• Smoke
• Vandalism
• Aircraft or vehicle collision
• Riot or civil commotion

Broad-form covered perils:

• All basic-form perils
• Burglary, break-in damage
• Falling objects (e.g. tree limbs)
• Weight of ice and snow
• Freezing of plumbing
• Accidental water damage
• Artificially generated electricity

 Special-form excluded perils:

• Ordinance of law
• Earthquake
• Flood
• Power failure
• Neglect
• War
• Nuclear hazard
• Intentional acts

What is property insurance?