There is no foolproof way to prevent accidents, theft, fire and other disasters that may damage your home and belongings. However, you can limit your financial losses from these events by investing in a homeowners insurance policy.

What Does Homeowners Insurance Cover?

Standard homeowners insurance may include the following primary coverages:

• Dwelling coverage may pay to repair or rebuild your home’s structure after a covered event, such as fire or vandalism.

• Personal property coverage may help replace furniture, electronics, sports equipment and other belongings if they were stolen or damaged due to a covered event.

• Liability protection may cover legal fees and medical expenses if someone gets hurt on your property.

• Additional living expenses coverage may pay for hotel bills, meals and other related costs if you have to live elsewhere temporarily due to a covered event.

• Medical payments coverage may cover your guest’s medical bills if injured on your property.

How Much Is Homeowners Coverage?

Several factors influence home insurance costs. Insurance providers typically consider the following to calculate your premium:

• Your home’s location

• Its age

• Construction materials

• The total replacement cost

• Your credit score

• Claims history

You can save on homeowners insurance by shopping around and comparing quotes from different providers. Many insurance companies offer discounts for the following:

• Bundling your home and auto insurance

• Increasing your deductible

• Installing security systems, smoke detectors or storm-resistant features

• Maintaining a good credit score

Learn More

BIA & Company can help you learn more about home insurance. Let our agents assess your coverage needs and help tailor your ideal policy. Contact us today for a free quote.