What, exactly, your homeowners insurance policy covers will depend on the type of policy that you hold, as well as the specific terms of that policy. That being said, most standard policies include four basic types of coverage:
- Structural Coverage: This coverage protects the physical structure of your primary dwelling and other structures on your property.
- Personal Property Coverage: This coverage is for items in your home that become damaged or destroyed by a covered event.
- Liability Coverage: This coverage protects you in the event you are deemed legally liable for an accident that takes place on your property which injures another person or damages their property. It commonly covers medical bills and legal fees.
- Additional Living Expenses: This coverage helps to pay for your living expenses if you are unable to live in your home for a period of time due to damage caused by a covered event.
Additionally, it may be possible to purchase riders or amendments that add other forms of coverage to your policy.
