Homeowners insurance
A home policy is a package of limits, settlement terms and exclusions.
The right questions go well beyond the home’s market value.
Dwelling coverage and reconstruction cost
Coverage A should reflect the estimated cost to rebuild the structure with current labor, materials and construction requirements—not the purchase price, tax value or remaining mortgage. Extended or guaranteed replacement provisions vary and usually require compliance with valuation and reporting conditions.
Other structures and personal property
Detached garages, fences, sheds and other structures may share a percentage-based limit. Personal property coverage must also account for settlement basis and special limits on jewelry, firearms, money, watercraft, business property and other categories.
Loss of use
When covered damage makes the home uninhabitable, additional living expense may help with the necessary increase in household costs. Limits, time periods and documentation requirements matter.
Personal liability and medical payments
Home liability can respond to covered bodily injury or property damage allegations arising from premises and personal activities. Pools, trampolines, animals, watercraft, rentals, home businesses and certain vehicles require specific review.
Endorsements worth reviewing
Depending on availability and need: water backup, service line, equipment breakdown, ordinance or law, matching roof or siding, scheduled valuables, identity or cyber protection, and increased limits for specific property.
Complete household protection