What Does Homeowners Insurance Typically Cover?

March 6, 2020


While almost every homeowner’s insurance policy is different, there are some things that most have in common, and here we look at those in a little more detail:

What is typically covered in a standard homeowner’s insurance policy?

Most policies cover a wide range of possible damages, along with coverage for your physical dwelling and other structures such as garages, sheds and driveways, and personal property is generally accounted for, too. If you’re running a business anywhere on your property though, a standard homeowner’s insurance policy may not cover many aspects of that. Personal property coverage is sometimes referred to as ‘contents insurance’, and may be limited to certain high-value items such as jewellery or artwork. 

Let’s look in a little more detail at some of the different types of coverage included in homeowner’s insurance policies:

Fire coverage:

Fires in the home can cause a lot of damage, and almost every policy protects structures and belongings in the event of a house fire. In the case of a home being destroyed by a fire and becoming inhabitable, standard policies cover extra expenses such as additional living costs and restaurant bills. 

Natural disaster coverage:

Not all the natural disasters are covered by a standard homeowner’s insurance policy, but damage caused by lightning, thunderstorms, hurricanes and hail are usually covered. For more detailed information about other natural disasters that may not be covered, speak to a professional insurance expert who can assess the risk of certain events occurring in your region, and better advise you as to what your policy should include. 

Flood coverage:

If your home has been flooded due to weather related events, then a standard policy will probably not cover you, and if you live in a flood prone zone, it might be worth investing in extra coverage to ensure that you’re protected in the event of a flood that damages your home. If you’ve had a pipe burst or a toilet overflow, on the other hand, most standard policies will cover you for this. 

Vandalism coverage:

Coverage that includes an all-risks or all-perils policy should cover you in the event of vandalism to your home, unless it has been specifically excluded. If your property has been vacant for some time, it may not be covered unless it still contains your personal property, or the property of whomever owns the insurance policy.  

Personal injury:

If an injury occurs to someone else while they’re on your property in which you are liable, then a standard homeowner’s policy will cover this. This might include an event such as someone slipping on ice that’s on your front walk or falling and hurting themselves because of a missing or broken step, for example. You might want to talk to an insurance provider as to exactly what your coverage includes as it is usually limited to a certain dollar value.

If you’re looking for coverage that protects you against more than just the basics, talk to an insurance expert today to make sure that you’re fully protected, before it’s too late.