Owning a home comes with various responsibilities. Accidents happen, many of which can be challenging to recover from financially. If you carry homeowners insurance, the risk of covering high out-of-pocket costs following a covered accident can be significantly reduced.

What Does Homeowners Insurance Cover?

While coverage may differ among policyholders, homeowners insurance typically includes some of the following options:

·        Dwelling coverage—This helps cover repairing or rebuilding damage to the house’s structure.

·        Other structures coverage—This assists in covering other buildings on the property, such as a shed or gazebo.

·        Liability coverage—This helps cover injury or damage to others or their property if the policyholder is held responsible.

·        Contents or personal property coverage—This helps cover clothes, furniture, electronics and other items in the home if they’re damaged or lost due to a covered cause.

·        Loss of use coverage—This assists with living expenses in a covered loss, such as temporary housing after a house fire.

The agents at Coverage Plus Insurance Agency can help you learn about coverages to include in your policy.

How Many Homeowners Insurance Claims Is Too Many?

It varies, but filing two or more homeowners insurance claims during the same coverage period can lead to increased insurance rates or even canceled coverage. If your coverage is canceled, it can be challenging to acquire a new policy.

How Much Homeowners Insurance Should I Have?

Although homeowners insurance is not mandatory coverage, specific lenders might require you to carry coverage. If you have the financial ability, insuring your home to its total replacement value might be something to consider to limit your chances of covering significant out-of-pocket expenses if an accident occurs.

Learn More

If you are a homeowner located near Campbell, California, the dedicated agents at Coverage Plus Insurance Agency can assist you in learning more about homeowners insurance to help you decide on the right policy.

Learn more by contacting our agency today at 408-626-7800.