What Does Homeowners Insurance Provide?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    A homeowner’s policy is a legal contract.  Your part is to pay the premium.  The company guarantees to pay for damages to your property, both the residence and the contents when the damage is the result of specified perils (i.e. fire, wind etc.) up to the limits of the policy. There are specific perils that are excluded, most notably, flood and earthquake.  There are also limits to recovery for certain types of property (i.e. fire arms, and Jewelry.) The policy also provides legal defense and payment of claims against you for personal injury and bodily damage lawsuits.  The coverage is limited by the policy declarations.  There are additional coverages such as debris removal, loss of rents, and others.
    Answered on June 9, 2014
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