The right homeowner’s insurance policy is one of the most important items a home buyer can purchase. A home is often an individual’s biggest asset so it is critical to protect it with enough insurance.

Always recommend that your clients ask their insurance agent detailed questions about their policy. However, for some basics about what homeowners insurance typically covers, take a look at the list below.

• The structure of the home – this includes the walls, roof, and foundation of the main structure. Most standard policies also cover outbuildings like sheds and detached garages as well.
• The contents of the home- these are all of the belongings including furniture, collectibles, housewares, and other items. The items do not necessarily need to be located in the home itself at the time of a claim as long as they are primarily located there.
• Liability- this covers claims involving third parties. For example, if a guest is injured or suffers some type of property loss while visiting, the policy’s liability coverage would step in to pay for the claim or defend against the charge.
• Many policies also include additional living expenses if the insured is unable to live in the home due to an issue caused by a covered loss.

Standard homeowner’s insurance does not include coverage for losses due to floods or earthquakes. If a home is located in a heavy flood zone or earthquake zone, the home owner will want to discuss additional insurance coverage.

Every policy contains a home insurance deductible which needs to be met before the carrier will pay for claims, so homeowners will want to be sure to pay close attention to the limits set during the application process and ask questions.

At Equity National, we want to help our partners make the home buying experience run smoothly for their clients and home insurance is an important component for buyers.