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Homeowners Insurance


Without proper homeowners insurance, it only takes one accident to make the dream of home ownership a nightmare. A home is usually the largest purchase an individual will ever make. It makes sense to want to protect such a grand purchase with the proper insurance coverage.

Homeowners insurance is specifically designed to protect your home and the possessions within it from the results of unexpected events causing loss. Usually, this will include fire, theft and accidents. And quite important is the fact that this kind of insurance can also aid in the protection of your financial solvency should someone be injured on your property and file a lawsuit against you.

Anyone who owns a home needs homeowners insurance, and will most likely be required to purchase it by their mortgage lender. Attempting to avoid purchasing a policy will result in the lending institution obtaining one and adding it to the cost of the mortgage payments. Banks feel the need to protect their investments, too.

Natural disasters

Usually, your policy coverage will extend to the protection from some natural disasters, but not all. Almost universally, earthquakes, floods, and hurricanes will not be a component of a typical homeowners’ policy and people need to obtain separate policies. Be sure to ask your insurance professional about the kind of coverage for natural disasters that can be best tailored to your needs and your budget for the area in which you reside.

Types of Coverage

Normally the state where you live will outline set minimums for homeowners policies. Lending institutions also set minimum coverage requirements.  In general, the more expensive the dwelling and the more costly the possessions within it will determine how much should be spent on premiums.

Homeowner liability coverage protects the homeowner from legal claims arising from negligence leading to personal injury or property damage. The insurance policy will provide legal assistance and pay any judgment up to the policy’s liability limit.

Other types of coverage are also made available, such as help with lodging expenses should the home be rendered uninhabitable from the consequences of a covered event.


Even if a home is owned outright, free from a mortgage, it’s still very wise to continue to carrying proper homeowner’s coverage. For most of us, our homes are the largest investment we will ever make. The peace of mind that comes from knowing it is protected from unforeseen circumstances can be priceless.