Homeowners Insurance

RECENT NEWS
Insurance Journal  Jul 13  Comment 
After review by the Florida Office of Insurance Regulation (OIR) and much criticism from Florida stakeholders, Florida-based Heritage Property & Casualty Company has withdrawn its request for an overall 14.9 percent increase of homeowners...
The Hindu Business Line  Jul 3  Comment 
Tech-based solution to roll out this year, says CEO Roopam Asthana
The Economist  Jul 1  Comment 
THE principle of “moral hazard” is well known to economists. It refers to the idea that people act differently when they are not fully exposed to an action's costs. (An often cited example is that people with good house insurance will be more...
Motley Fool  Jun 18  Comment 
If you own your own home, see whether any of these tax deductions can save you hundreds -- or perhaps thousands -- of dollars.
Insurance Journal  Jun 17  Comment 
Florida-based homeowners insurance provider, Security First Insurance Co., has promoted Melissa Burt DeVriese to chief administrative officer. DeVriese will also retain her title of general counsel. With this promotion, DeVriese is responsible for...
Insurance Journal  Jun 14  Comment 
Allstate Insurance returned to the California homeowners insurance market this week following a nine-year absence writing new policies. Insurance Commissioner Dave Jones welcomed Allstate, which entered into an agreement with the commissioner to...
New York Times  Jun 1  Comment 
In coastal states, damage caused by hurricanes or named storms is often subject to a separate deductible.
Insurance Journal  May 9  Comment 
Auto and home insurance buyers in the U.S. paid slightly more for their insurance in April compared to the prior six months. It’s not clear whether a pricing trend is starting or catastrophe losses drove a temporary price change, according …
Forbes  Apr 25  Comment 
Does having a bad credit score impact the cost of your auto or home insurance policy? For residents of most states, the answer is “yes”, though whether or not this is a positive thing is up for debate.
Insurance Journal  Apr 20  Comment 
The homeowners insurance line, not often thought of as a bastion of change, is actually quietly evolving beyond the traditional “one-size-fits-all” business. Some of the puzzle pieces that make up homeowners insurance are changing shape and...




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Understanding Homeowners Insurance

Property Protection

  • Dwelling usually covers the house, any attached structures, house fixtures, plumbing, heating, in-built air conditioning systems and electrical wiring.
  • Other Structures, other than those used for business purposes, covers detached structures like garages, storage sheds and land fixtures.
  • Personal Property covers all personal items in your home that are owned by you or family members who live with you. Protection for these items depends on actual cash value or replacement cost.
  • Loss of Use covers expenses in excess of your normal living expenses should you be forced to live anywhere other than your home during repairs or a government injunction.
  • Endorsements can be added to your homeowners insurance policy at an additional cost to provide extra protection against occurences like theft, inflation, credit card forgery etc.

Liability Protection

  • Personal Liability protects you and family members that live with you from a claim or lawsuit arising from bodily injury or property damage to others caused by an accident on your property. It generally does not provide protection for vehicle- and business-related incidents.
  • Medical Expenses, as the name indicates, pays the medical expenses for individuals who are accidently injured on your property, regardless of who is at fault for the injuries. It does not cover injuries to you or family members that live with you.
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