What is homeowner insurance?

Homeowner insurance puts your most valuable asset back together if something happens. But it does more than just protect your house, it also covers your belongings, protects you if you are liable for an injury to another person, and pays your additional expenses if you need to live elsewhere after a loss.

What does it cover?

Dwelling

The big kahuna of homeowner insurance. Dwelling coverage pays for damage to your home itself.

Personal Property

Since you probably don’t have a magic credit card you could use to replace almost all your possessions at once, personal property coverage is there to do the job.

Other Structures

Do you have a have a tool shed or detached garage? Other structures on your property can come along for the ride as well.

Liability

If someone says you’re a liability, they’re probably kidding. If they say you’re liable, that might be another story. Liability coverage pays defense costs and damages if you are liable for someone’s injuries or damaged property.

Medical Payments

Was a guest injured at your house? Medical Payments are usually enough to cover a trip to the ER.

Additional Living Expenses

Is there a breeze coming from the sky now instead of a ceiling fan? Additional Living Expenses pays your temporary stay outside of your house while it is repaired from a covered loss.

What are the risks?

Homeowner policies have a list of things that could cause damage to your home or possessions, called “Perils.” The most common ones are covered but you should be aware of the exclusions, in case you need to request a certain item be added by endorsement. For the perils of earthquake, flood or hurricane, you may need to get a second homeowner policy.

Perils Usually Covered

Fire and smoke
Lightning strikes
Windstorms and hail
Explosion
Vandalism and malicious mischief
Damage from an aircraft, car or vehicle
Theft
Falling objects
Weight of ice, snow or sleet
Water damage

Perils Usually Excluded

Earthquakes
Flood
Wear and tear
Mold
Maintenance issues
Insects or pests
Pet or animal

Get covered!

Find the right coverages with comparative quotes.

Questions? Call us!

(833) 534-1543

Questions? Call us!

(833) 534-1543

How much does homeowner insurance cost?

Homeowner insurance is reasonably priced, considering how robust the coverages are. The nationwide average for insurance is $1,211 per year (or about $100 per month).

The costs will be different for you, depending on your situation. One obvious factor in your homeowner insurance cost is the value of your house:

Home Value
Average Annual Premium

$50,000

$745

$100,000

$870

$200,000

$1,092

Home Value
Average Annual Premium

$300,000

$1,252

$400,000

$1,467

$500,000

$2,149

What factors are used to calculate your homeowner insurance?

If there is one industry that is competitive, it’s insurance. The cost of your policy really is each insurance company’s best effort because they have to line up against their competitors every day. So you’re not only getting a fair deal—you’re also getting a good one.

The factors used to calculate insurance costs are:

  • Your credit history
  • Presence of hazards like pets or swimming pools
  • How much it will cost to replace your home
  • How much coverage you buy (personal property & liability)
  • Your deductibles
  • Bundling with auto
  • Risk of natural disasters in your area
  • Crime rates in your neighborhood
  • Construction type of home
  • Age of home
  • Your history of filing insurance claims

How to get homeowner insurance discounts

Do yourself a favor and maximize your insurance discounts!

Home and auto bundle

Insurance companies give major discounts for bundling your property because it makes you less likely to switch later on. So don’t get too comfy—you should re-shop your insurance at least every few years.

Comparison shop

No two insurance companies are alike, so the easiest way to save is to get multiple quotes and choose the one with the best combination of coverages and price.

Protect it

Make your home safer and your insurance cheaper at the same time with security features, such as smoke alarms, burglar alarms, and fire extinguishers.

Choosing the right deductibles

Not too high, not too low. Get your deductibles just right. Small increases in your deductible can make big changes in your insurance, but be careful you don’t overdo it.

Life events

Just got... whatever? Major changes in your life, like: moving, having kids, or a marital status change, often impact your insurance. You should consider re- shopping after major life events.

Score with credit

It turns out credit scores aren’t just for getting loans. Insurance discounts are just one more reason to keep building your (financial) house.

Compare and save!

Get discounts on your car insurance.

Questions? Call us!

(833) 534-1543

Questions? Call us!

(833) 534-1543

Buyer Education

Want to learn more about homeowner insurance? Pop the hood and see how it runs!

Homeowner coverages

The nuances of the coverages to your home, belongings, other structures, personal liability, medical payments and additional living expenses are good to know.

Homeowner perils

Not all causes of loss to your property are created equal (as far as homeowner insurance policies are concerned). Some are covered and some aren’t. Do you need to address any of the exclusions in your policy?

Homeowner cost

Is your state among the most or least expensive for homeowner insurance? Learn other drivers of your homeowner insurance cost.

Homeowner discounts

Most people are overpaying for insurance by not taking advantage of all the discounts they could. Find out more about saving.

How to buy homeowner insurance

Learn what information you will need to provide to get an insurance quote. Request an effective date several days in advance so you can cancel your current policy on the same day without any lapse in coverage.

Paying homeowner insurance through Escrow

Escrow has a funny way of discouraging homeowner from switching insurance. It doesn’t have to be this way! Your mortgage company works for you, and they’re experts in swapping escrow payees.

Standard auto insurance

You have a daily driver, too. Learn more about the ins and outs of standard auto insurance, and how it is similar to classic/collector insurance.

Classic / collector vehicle insurance

Learn how the liability and uninsured motorist coverages are the same but your vehicle’s value in collision and comprehensive coverages is different. Classic/collector vehicle insurance also gives you some bells and whistles you’ll appreciate.

Umbrella insurance

Ever wonder what you would do if you become liable for more than your homeowner or auto insurance limits will cover? Umbrella insurance is an inexpensive product that drastically increases your liability protection, and gives you a few coverages you won’t get anywhere else.

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