What is covered by standard homeowners insurance?

Understanding the four essential protections provided by your homeowners policy

Your home isn’t just a structure made of beams and walls — It’s your happy place, and it deserves to be protected.

Independent insurance agents carry the burden of searching high and low and won’t stop until we find the homeowners coverage that will keep your carefree sanctuary secure.

Homeowners insurance is a contract between you and the insurance company. And it’s basically as simple: You give them a set amount of money, and in return, they help protect you from damages and liabilities that are covered under your policy. Pretty simple, and totally worth it.

Accidents will happen, so It’s important to protect your home and the things in it from the unexpected. Your insurance policy will cover a number of things, like property damage, liability, regionally popular natural disasters, and a whole lot more. If you ever have any questions, we can help you nail down exactly the type of coverage’s you need.

What Does Homeowners Insurance Cover?

To put it simply, homeowners insurance is designed to repair, replace or recover the value of what you currently have (under coverage) if it’s damaged due to any number of causes.

Types of claims and cause of damage

  • Property Damage – This is by far the biggest claim maker, which includes damage to your house and any structures on your property due to water, fire and severe storms among others.
  • Natural Disasters – Homewreckers like floods and earthquakes are usually not covered by basic plans, meaning, you’ll need added coverage or a separate policy to keep your goodies protected. See what disasters are covered >
  • Standard Home Liability – This will cover you financially if someone is injured or their personal belongings are damaged while on your property. More liability info >
  • Extra Money for Living – If your house is too messed up to live in while it’s being repaired or rebuilt, most policies will pay for a hotel and other living expenses, like groceries.
  • Personal Property Coverage (AKA your stuff) – This will depend on the policy. Items like furniture may only be covered up to a depreciated value, but stuff like your bling might not have any coverage and will need additional insurance.  Details on covering your stuff >

Is Homeowners Insurance Mandatory?

Homeowners insurance isn’t required by law, but most lenders will be sticklers and will require a policy in order to give you a loan. At a minimum, they’ll want your policy to cover or exceed the amount you owe on the loan.

What’s So Great About an Independent Insurance Agent?

Independent insurance agents work for YOU and not one insurance provider. Actually, we’re the only agents who can check policies from multiple carriers to find the right coverage at the best price.

It’s simple. Literally. Independent insurance agents like Masterpole Murphy simplify the process by shopping and comparing home insurance quotes for you. Not only that, they’ll cut the jargon and clarify the fine print so you know exactly what you’re getting.

Most importantly, we’ll be here to help you when claim time comes. The outcome of home insurance claims can be strongly impacted by how the process is approached and handled.

How to Make Sure You’re Adequately Covered

Many homeowners think they’re fully covered. Unfortunately they’re not, and figuring this out when it’s claim time can be infuriating. Finding the right coverage depends on a number of things, from crime rates to wildfires in your area. Here are several hacks to help you.

Three Home Insurance Hacks

  • Add an umbrella policy to increase coverage by up to $1 million or more.
  • Protect higher-value items like jewelry and art through “riders” or “endorsements.”
  • Get replacement cost home insurance instead of “actual cash value,” which only covers the current depreciated value.

How Much Does Home Insurance Cost?

The average annual cost of homeowners insurance is $1,245 state wide in New York State.

Where Are All the Home Insurance Discounts Hiding?

To start, combining policies and raising your deductible are two easy ways to drive down cost. You can also get lower rates and discounts if you reduce the risk of theft and damage by installing fire sprinklers, smoke alarms and security systems. More on discounts >

The 411 On Online Home Insurance Quotes

We know what you’re really looking for — fast and easy insurance quotes in 30 seconds or less. We get it, you want the goods ASAP, but choosing speed over accuracy can leave you high and dry or low and wet.

Robots and algorithms may be quick, but your peace of mind isn’t a variable in their quoting equation. Not only that, our competitors may sell your info to multiple companies, which can result in calls, on calls, on calls.

We flipped the script on this process. We take the wheel and do the work to find the best quotes to fit your needs perfectly. No hassles necessary.