What are the 6 categories covered by homeowners insurance?

Generally, a homeowners insurance policy includes at least six different parts of coverage. The names of the pieces may vary depending on the insurance company, but are generally referred to as housing coverages, other structures, personal property, loss of use, personal liability, and medical payments. HO-6 policies generally provide coverage for building ownership, personal property, personal liability, and loss of use. Like other types of home insurance, HO-6 does not usually cover floods and additional coverage will need to be purchased if flood insurance is desired.

This type of policy covers the structure of your home, your personal belongings, civil liability, additional living expenses and medical payments. You should get an idea of how much homeowners insurance costs in your area by researching and getting several quotes. The amount of coverage for each item varies from insurance company to insurance company, but is generally about 50% of the coverage you chose for the structure of the home. This compensation may affect the way and where products appear on this site, including, for example, the order in which they may appear within the listing categories.

With personal property coverage, your home insurance policy protects the contents of your home from the hazards listed in your policy, which often include fires, windstorms, falling objects, explosions and theft, among others. It covers hotel bills, restaurant meals and other costs, in addition to the usual living expenses, incurred during the reconstruction of your home. This means that, unless the insurer excludes a hazard from the policy, the policy covers any type of hazard, with a name or not. These policies only cover the 10 hazards mentioned above, so some types of accidental damage, such as water damage caused by pipes or a damaged water heater, will not be covered.

All insurance products are governed by the terms of the applicable insurance policy, and all related decisions (such as approval of coverage, premiums, fees and charges) and policy obligations are the sole responsibility of the insurer. We partner with the country's leading homeowners insurance companies so you can get a personalized policy at an affordable price. Many insurance companies set reimbursement limits of between 20 and 50% of the total coverage you choose. These so-called hazards and fortuitous events that are beyond the owner's control may include fires, burglaries, windstorms, or lightning.

It only covers the structure of your home, attached structures, such as garages and appliances, and home features, such as carpets. Of all the types of homeowners insurance policies, Adams recommends the HO-5 for people with high-value items. HO-7 policies cover homes such as recreational vehicles, trailers, sectional homes, as well as single-width and double-wide mobile homes. However, you receive “identified hazard” coverage for your personal belongings, which applies to the disasters mentioned in the policy.

Timmy Stango
Timmy Stango

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