Homeowners insurance is the most important step you can take to protect your home and belongings. Unlike car insurance, you don’t legally need a policy to buy a home, but smart homeowners know the importance of insurance. Additionally, if you financed your home, your lien holder will require homeowners insurance. While trying to shop for the best policy you may ask, “what is homeowners insurance?” Lighthouse is here to help break it down.

Protection

For most, a home is one of their biggest, if not the largest, investment they’ll ever make. The walls and roof protect their most treasured items and memories. However, life happens, and all too often being able to afford to fix the damages from a hail storm, hurricane, or vandalism is out of reach. That’s where homeowners insurance kicks in - to protect you from the unexpected.

So What Does a Homeowners Policy Cover?

The items covered will vary from policy to policy, but the standard policy will help to cover named perils such as:

• Fire
• Hail
• Theft/Vandalism
• Lightning
• Windstorm

Note: flooding is NOT typically covered under a homeowners policy. Contact a local lighthouse agent to review your coverage needs.

In addition to these perils, a policy will include coverage for the following as well:

• Liability
• Personal property
• Other structures
• Loss of use
• Dwelling coverage

Each of these can have different guidelines and standards for what is covered, and under which circumstances, depending on which company you choose. In the event your home is uninhabitable after a loss, most policies will help to cover the increased living expenses of staying in a hotel and dining out.

The type and amount of coverage along with varying details can affect your homeowners rates. Talk to your agent to ensure you completely understand the amount of coverage you are purchasing and that it’s the right policy for your needs.

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