The flood insurance coverage you need depends on the size and structure of your house and the value of your belongings. For example, you may need more coverage if you live in a sprawling one-floor ranch than if your home has two stories and half your possessions are above the reach of ...
Does Homeowners Insurance Cover Floods? Flooding caused by internal problems (such as a leaking bathroom pipe) is typically covered by homeowners insurance. However, if the damage is caused by a natural cause outside the home such as flash flooding, a basic policy will not usually cover the lo...
Homeowners insurance covers a variety of situations, including: Fire Standard homeowners insurance policies usually cover damage due to fire, both house fires and wildfires, as well as smoke damage. Your policy should pay to replace or repair the house's physical structure, permanent fixtures, app...
House firesare one of the most common causes of damage to homes, and almost every homeowners insurance policy protects structures and belongings against them. If a home is a total loss due to fire, most standard policies that cover fire also cover the cost of additional living expenses, such ...
Builder's risk insurance covers the property and materials during a renovation. Learn how much builder’s risk insurance costs, what it covers, and more.
Debris removal: If a covered loss has left your yard or house in debris, your property coverage will help pay for debris removal. Food spoilage: Your insurance will cover refrigerated food loss if your home loses power for an extended period. Building alterations: If you’ve added or upgraded...
When you move into a new place, it’s more fun to imagine future dinner parties than worst-case-scenarios. Maybe that’s why so few renters have renters’ insurance—as of 2014, the Insurance Information Institute (III) reported only 37 percent of tenant
No, standard homeowners insurance doesn’t cover flooding, but you can purchase it as a separate policy through a private insurance company or the National Flood Insurance Program. Homeowners insurance steps in when your home or property is damaged by a unexpected event, such as vandalism, theft...
What is a mortgage? A mortgage is a loan you get to buy a house. You borrow the money from a mortgage lender to cover the cost of the home purchase now, and then pay off the loan— with interest — over a set period of years, normally 15 or 30 years. What makes a mortgage diff...
For example, if a pipe in the kitchen bursts and floods the apartment below, your renter’s insurance policy will cover the damage. What is not covered by renter’s insurance? Before taking out renters’ condo insurance, you should know what is not part of the policy to be prepared if ...