What Does Homeowners Insurance Typically Cover?

What is typically covered under homeowners insurance? Homeowners insurance covers a wide range of events that can cause damage to the insured property. That’s why it’s important to look at what homeowners insurance typically covers:

Dwelling protection. Dwelling coverage protects the physical structure of the home, including the roof, walls, floors, and foundation. This coverage typically pays for the cost of repairing or rebuilding a home if it's damaged by a covered peril, such as fire or vandalism. Each policy varies but some policies cover losses resulting from things like mold, roof leaks, water damage, and plumbing issues. Homeowners insurance policies do not generally cover losses resulting from a flood.
Personal property. Personal property coverage helps cover the cost of repair or replacement of the homeowner’s personal belongings, such as furniture, electronics and clothing if they are damaged or stolen as a result of a covered peril.
Other structures on the property. Homeowners insurance policies may also cover structures that are not attached to the home, such as sheds, garages, and fences.
Loss of use. If the insured home is damaged or destroyed by a covered peril and, as a result, the homeowner is unable to live in it, loss of use coverage may help pay for the additional living expenses the homeowner incurs while their home is being repaired or rebuilt. This coverage may include the cost of temporary housing, meals, and other living expenses.
Personal Liability. If someone is injured on the insured property or a third party’s property is damaged by the homeowner, members of the household or the homeowner’s pets, homeowners insurance policy will typically help cover the costs of the resulting bodily injury and/or property damage.

Some common perils that are often covered by homeowners insurance include:

Fire
Lightning
Smoke
Windstorms and hail
Explosions
Theft
Vandalism
Ice, snow and sleet
Damage from a power surge
Falling objects
Riots