Homeowners Insurance: Protection for Your Most Important Investment

When you own a home, you know how much it means to protect it and all the belongings that it holds. While it serves as your sanctuary and place of peace, your home is not invincible to unexpected damage and other unexpected events.  A homeowner insurance policy is basically six policies rolled into one: A.  Dwelling Coverage; B.  Other Structures Coverage; C.  Contents or Personal Property Coverage; D.  Loss of Use; E.  Personal Liability; and F. Guest Medical Payments Coverage.  A homeowner policy will not pay for damage to the dwelling caused by flood, a separate flood insurance policy is necessary.

Coverage A.  Dwelling

Dwelling Coverage protects the physical structure that makes up your home.  This includes coverage for the walls, floors, ceilings and any attached structures such as garages or patios that are a part of your home.  Dwelling coverage protects the home from certain natural disasters such as fire, wind, or hail and other events either specifically listed in your homeowner insurance policy, or events not specifically excluded from coverage.  It is important to purchase enough coverage to rebuild your home.  Our agents can assist you in determining replacement cost.

Coverage B.  Other Structures

This covers structures set apart from your dwelling such as a fence, detached garage, or pergola.  Limits for Other Structures Coverage is generally 10% of the dwelling coverage limits.

Coverage C.  Contents

Contents, or personal property coverage protects the belongings within the structure of your home. This includes large appliances like your refrigerator, washer and dryer, and your personal belongings such as your furniture, clothes, jewelry and other items. The amount of contents coverage you require depends on the amount and value of items you want covered in your home. By itemizing each of your belongings in your home, we can determine what coverage level you require.

Coverage D.  Loss of Use 

Covers additional living expenses if you are temporarily unable to live in your home because of an insured event. 

Coverage E.  Personal Liability

Personal liability is designed to protect you financially when someone is injured on your property or in certain incidents off premises. Personal liability provides coverage for their medical costs and protects you if you are sued after an accident.

Coverage F.  Guest Medical Payments

Covers medical expenses for a guest injured on your property regardless of fault.

Homeowners insurance is a must for any homeowner. Whether you are choosing a policy for the first time or would like to compare your existing policy with new options, contact Lozes Insurance Agency. We serve clients in Mandeville, Slidell, Covington, and the entire New Orleans and Baton Rouge metropolitan areas.