Who
Who needs homeowners insurance?
Homeowners
What does homeowners insurance cover
Dwelling Protection, Personal Property, Liability
A burglar steals your PS5. Which protection covers this scenario?
Personal Property
You go on vacation but lose your luggage in the process. Are your missing items covered with homeowner's insurance?
Yes, but usually at 10% of your personal property coverage limit
Do landlords need homeowners insurance?
No, they would need landlord's insurance if they plan to have tenants live there long term
What are the factors of cost
Location, footage, coverage amount
A tree falls on your bedroom while you are asleep. Which protection covers this situation?
Dwelling
You leave your car in your garage overnight with some items in it. You wake up to find your garage broken into and your car missing. Is this covered by your homeowner's or auto insurance?
Both. Auto insurance deals with your missing car, while homeowner's insurance deals with personal items that may have been in your car.
Are pets included in homeowners insurance?
Yes, since they are considered as a liability
What are the 3 levels of coverage?
Actual Cash Value, Replacement Cost, Guaranteed/Extended Replacement Cost
You host a party and one of your guests trips on the stairs and is injured. Which protection covers this scenario?
Liability
You have a standard homeowner's insurance policy without any extra coverage. Your toilet backs up with sewer water and ruins your bathroom. Is this included in your insurance?
No, since you would need an additional premium that covers for sewer overflows