Home Insurance FAQs

Q. What is homeowners insurance?

Answer: Homeowners insurance is a type of insurance that provides financial protection for your home and personal property in the event of damage or loss caused by covered events such as fire, theft, or natural disasters.

Q. What is covered under a standard homeowners insurance policy?

Answer: A standard homeowners insurance policy typically covers damage to the structure of your home and personal property, as well as liability protection in case someone is injured on your property. It also covers additional living expenses if you need to temporarily relocate due to a covered event.

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Q. What is not covered under a standard homeowners insurance policy?

Answer: Flood and earthquake damage are typically not covered under a standard homeowners insurance policy. These types of damage require separate insurance policies.

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Q. How do I determine how much homeowners insurance I need?

Answer: The amount of homeowners insurance you need will depend on the replacement cost of your home and personal property. It’s recommended to get enough coverage to rebuild your home and replace your personal property in the event of a total loss.

Q. Can I cancel my homeowners insurance policy?

Answer: Yes, you can cancel your homeowners insurance policy at any time. However, if you cancel your policy before the end of your coverage period, you may be subject to a cancellation fee.

Q. How does my credit score affect my homeowners insurance rates?

Answer: Some insurance companies use credit-based insurance scores to help determine your homeowners insurance rates. A higher credit score may result in lower rates, while a lower score may result in higher rates.

Q. What happens if I miss a homeowners insurance payment?

Answer: If you miss a homeowners insurance payment, your policy may be cancelled. Depending on the terms of your policy, you may be able to reinstate it by paying past-due premiums, but it is important to contact your insurer to confirm their policy.