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Homeowners Insurance

A common question we get here at FasTrak Insurance Solutions is what home insurance covers. The answer is that it depends on the type of home insurance you have. There are many different types of homeowners insurance that you should be aware of so that you get the right home insurance coverage for your California home. Let FasTrak Insurance know how we can help.
What Home Insurance Covers If There's a Loss - Infographic

What Home Insurance Covers if There's a Loss

Damage to Your Home

First and foremost, home insurance covers damage to the physical structure of your home. This damage can be caused by any number of things, including fire, hurricane, hail, lighting, a random tree falling on your house, etc.

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Your Personal Belongings

The items inside your home have value, as they would cost money in order to replace them should you lose everything or items are stolen. Household goods, such as furniture and sporting equipment, as well as electronics, jewelry, and guns are covered, although there may be limits in place with luxury items, such as jewelry and guns.

Other Structures Damaged

If you have a shed, a barn, a pool, a gazebo, or other outdoor standing structures, these are covered if they should be damaged.

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Liability Coverage

If someone is hurt inside your home during an event, their medical expenses will be covered. Liability protection also protects you against lawsuits for bodily injury or property damage that you, family members, or even your pets cause to others while on or in your property.

Additional Living Expenses

Additional living expenses cover your hotel costs and meals if your home is rendered unlivable due to an event, such as a fire. These stay in effect while your home is being rebuilt, too. Be sure to check on limits, however. If you rent out part of your home and it is damaged, this amount will be paid out to you, too.

Homeowners Insurance Information

Because everyone's needs are not the same, it is best to consult your agent to help assess your needs and find the insurance policy that is right for you.

What is Homeowners insurance?
Homeowners insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it.

Homeowners' insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets.

Damage caused by most disasters is covered but there are exceptions. The most significant are damage caused by floods, earthquakes, and poor maintenance. You must buy two separate policies for flood and earthquake coverage. Maintenance-related problems are the homeowners' responsibility.

Why do you need homeowners insurance?
It is really all about protecting yourself financially if something unexpected happens to your home or possessions. That's important because chances are your home is likely one of your largest investments.

  • If your home was destroyed by fire or damaged by a natural disaster, you'd need money to repair or replace it.
  • If a guest in your home is injured, liability protection and medical coverage help pay expenses.
  • If you are a victim of theft and vandalism, it can reimburse you for your loss or pay for repairs.
  • If you are still paying for your home, your lender will require insurance.

It is important to know that homeowners insurance is meant to cover unexpected damage, not routine maintenance. Ask your agent to talk about what is covered and be sure to read your policy so you know exactly what's included and what is not.

Things to consider and questions to ask your agent
Here are a few things to discuss with your agent that will influence your decisions.

  • How much will it cost to rebuild my house and replace my belongings if they are damaged or destroyed? (Ask your agent to talk you through your home's features and the things you own so you can make an informed decision about coverage.)
  • Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?
  • What discounts are available? (Ask about multiple policies, security systems, and fire resistance discounts.)
  • What's the process for filing and settling a claim? (Ask who to call and what happens after you file a claim.)