If you’re thinking about buying a house or are currently under contract, you may be looking into homeowners insurance. This type of policy offers financial reimbursement for certain events that can happen on your property. The following guide outlines what’s typically covered under these plans, as well as add-on options, so you can ensure your house is protected.

What Is Covered Under Homeowners Insurance?

1. Dwelling Protection

Dwelling protection is a standard type of coverage included in most policies, and it protects the structure of a home. If a tree falls on the house, you can file a claim through your insurance provider. After paying the deductible—the maximum out-of-pocket cost—the insurer reimburses you for the remaining repairs. Damage caused by hail, windstorms, lightning, vandalism, and fires is also covered under this category.

2. Other Structures Protection

This type of coverage protects any structures on the property that is not your primary dwelling space. For example, if you have a shed or fence that is damaged, it would likely be covered under this part of the plan. The policy also extends to gazebos, detached garages, walkways, detached patios, and guest houses.

3. Liability Protection

If you host a visitor that injures themselves on your property, you could be sued or held liable for their medical fees. This could also happen with people who come to your home but aren't necessarily house guests, such as delivery personnel. Home insurance policies often pay for a portion of any injury-related costs. 

However, some owners take out umbrella policies to increase their liability coverage. If a person's medical bills and lost wages exceed the limits of the homeowners policy, umbrella coverage helps cover any remaining costs. 

4. Personal Property Protection

In the event of a fire or similar disaster, your personal belongings, such as clothing, electronics, and collectibles, may be damaged and unsalvageable. Homeowners insurance reimburses you for what it would currently cost to replace them or what you paid for them originally. Consider itemizing your most expensive or valuable belongings and keeping an inventory list for reference. 

5. Flood & Earthquake Protection

Most standard homeowners policies don’t pay for damages resulting from floods or earthquakes. Fortunately, you can add extra coverage by purchasing separate policies based on the risks your area faces. For example, if you live in a coastal area with low elevation, flood insurance is an investment worth considering.

If you’re searching for homeowners insurance in St. Charles, MO, turn to Gary Lung – Farmers Insurance. This trusted agent has more than 45 years of experience and offers comprehensive coverage options to fit each client's specific needs. Whether you need auto, life, business, renters, or recreational insurance, Gary can find you the perfect policy. Find out more about the available products online, or call (636) 441-1897 to request a quote.