Homeowners Insurance Guide
Homeowners Insurance Resources: A Comprehensive Guide to Homeowners Insurance
Understanding your homeowners insurance needs can be challenging. This resource hub brings together helpful articles on topics like coverage types, common insurance terms, and costs. Whether you’re looking for ways to lower your premium or just want to learn the basics, these resources can help.
Terms to know:
Blanket Insurance
Blanket insurance enables a property owner to cover multiple pieces of property with one policy. For example, a landlord who has many rental units might take out a blanket policy to insure them all.
Flood Insurance
A standard homeowners policy typically offers some coverage for unexpected water damage due to a plumbing malfunction or broken water pipe. But most standard homeowners policies do not cover damage caused by an overflowing body of water, like a creek, bay, or river. That kind of protection usually requires a separate flood insurance policy.
Hazard Insurance
When you hear the term “hazard insurance,” it’s typically referring to the portion of a homeowners policy that kicks in when someone suffers a loss caused by certain hazards or “perils,” such as fire, hail, theft, a falling tree, or a broken pipe.
Homeowners Insurance
A typical homeowners policy covers the physical structure of an insured home and other structures on the property, personal belongings in the home, and additional living expenses if the owner can’t stay in the home after damage.
Mortgage Insurance
Mortgage insurance protects lenders against the possibility that a borrower might fail to make the payments on a home loan.
Title Insurance
When you buy title insurance, the title company searches for any ownership issues that might cause legal problems after you close on the property. It will look for any liens that might remain on the property, for example, or clerical problems that weren’t caught and fixed in the past.
What Does Homeowners Insurance Cover?
Learn what is, and isn’t, typically covered by homeowners insurance.
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