What Does A Basic Homeowners Insurance Cover?

  1. 14231 POINTS
    Tom Sheehan
    Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
    In most modern Homeowners' policies, which are sometimes referred to as an "HO-5" form, your home is covered on an "open peril" basis.  This means that instead of specifically naming what the policy covers, it lists specific coverage exclusions.  Some of these would include Earth Movement and Flood for example.  Talk to your Insurance Professional about the specific terms and conditions of your policy.
    Answered on April 29, 2014
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  2. 617 POINTS
    Waltere Koti
    Principal Agent, First Insurance Agency Inc, United States
    A basic homeowners policy which I think you are referring to a owner occupied dwelling which is a HO3. This policy covers the replacement cost of the dwelling. It also covers other structures on the premises. It also covers loss of use. Just in case you were to live in hotel while your home in being repaired after a loss. It also covers medical payment. It also covers liability just in case some one is injured on your premises . It also covers your content. Content may be covered as scheduled or unscheduled
    Answered on May 14, 2015
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