Frequently Asked Homeowners Insurance Questions

Navigating the complexities of homeowners insurance can be daunting for many homeowners. With myriad coverage options, exclusions and policy details, it’s no wonder questions abound. Whether you’re a first-time homeowner or looking to update your existing policy, understanding these key aspects can help ensure you have the right coverage for your needs.

Homeowners Insurance FAQs

The following are some frequently asked questions about homeowners insurance:

What does homeowners insurance cover?

Homeowners insurance typically covers the cost of damage to your home and personal property due to events like fire, theft, vandalism and certain severe weather events. It can also offer liability coverage if someone is injured on your property.

What is not covered by homeowners insurance?

Standard homeowners insurance policies generally do not cover damage caused by floods, earthquakes, or normal wear and tear. Separate policies or endorsements may be needed for these types of coverage.

How is the cost of homeowners insurance determined?

The cost, or premium, of homeowners insurance can be affected by various factors, including your home’s location, age, and condition, the amount of coverage you choose, and your claims history. Homes in areas susceptible to severe weather or with high crime rates may face higher premiums.

How can I save on homeowners insurance costs?

You might reduce your premium by raising your deductible, combining your homeowners insurance with other policies (such as auto insurance), installing security systems and keeping a good credit score.

Do I need homeowners insurance if I own my home outright?

While it’s not legally required, homeowner’s insurance is highly recommended. It protects your investment and can offer financial security in case of unexpected events.

How do I file a claim?

To file a claim, contact your insurance company promptly following the incident. Supply detailed information and documentation of the damage or loss. An adjuster will then evaluate the claim and decide on the payout.

Learn More

Contact Sam Buentello Insurance Agency today to learn more about homeowners insurance.