When you purchase insurance, we will ask simple questions about you and your home, and then you'll have some options when picking coverages. Several of these factors can impact your price. Generally, more coverage means a higher price. Then if your house is damaged or something else happens, you can file a “claim” with your insurance company. That's an insurance term for asking for payment based on what's protected on your policy. If it's covered, they'll pay for the damages or losses up to your specified coverage limits.
Homeowners insurance is an agreement between you and your insurance company that can cover your house, unattached structures, lawsuits against you, and more. When you buy homeowners insurance, you're buying “coverages,” which are essentially things your insurer agrees to pay for.
It's basically like paying a little now to avoid potentially paying a lot later.
Get your free home insurance quote online today. Get a quote online and work with an insurance agent to find the right Home Insurance coverage for your property and unique needs.
Real-Time Pricing. Insurance coverage: Wind Damage, Fire Loss, Water Damage. Protect your home and belongings.
Generally, more coverage means a higher price.
Homeowners insurance is not legally required. But, if you have (or are getting) a mortgage, your lender will likely require you to purchase insurance to protect their investment. In fact, Progressive and many other insurers will help coordinate details with your lender.
Do I need homeowners insurance?
Standard coveragesThese are the coverages offered in most states, but coverages can vary by state. Keep in mind, insurance doesn't cover maintenance or general wear and tear.
Dwelling coverage: Anything permanently attached to your house, including attached garages, chimneys, roofs, countertops, cabinets, flooring, vanities, and even in-ground pools, etc.
Other structures: Structures not attached to your house, including sheds, unattached garages, gazebos, pergolas, fences, driveways, etc.
Personal property: Your stuff, even if it's damaged or stolen away from your home. For example, personal property covers tools stored in your shed destroyed by a fire or even your computer if it's stolen from your car. Belongings that are commonly covered:
Limits for belongings: Insurers typically have a per-item limit that is a percentage of your total personal property coverage. This means that certain expensive items may not be fully insured. For example, you have $100,000 in personal property coverage, but the limit for any single item is 10% of the total coverage.
If your $15,000 grand piano is damaged, you'll only get a payment for $10,000, minus your deductible. Long story short: If you have expensive items, contact your insurer to get proper coverage. You'll then add them as individual items to your policy, called scheduling an item or adding a rider.
Temporary living expenses
Loss of use: If your home is damaged from a covered loss and uninhabitable, this coverage pays for hotel/rent expenses plus food (above what you'd normally pay). For example: If you usually spend $100 on groceries a week, but need to spend $500 to eat out, you'll get $400.
Personal liability: If someone is injured on your property, due to your fault, or you/your family members on your policy cause damage to others' property, this coverage will kick in. If you're sued over these damages, this will also pay for your lawyer and court fees as described in your policy. For example, if your babysitter falls down your stairs because there is not adequate lighting, this would pay for her injuries. Or, if you're playing catch in the backyard and the ball accidentally breaks your neighbor's window, this coverage will pay to replace the window.
When you're covered
Perils: These are really just events/instances that can cause damage. Which perils are covered can vary depending on your insurer and the type of policy you choose. Here are some commonly covered perils:
Insurers consider a variety of factors, but they're really trying to answer two key questions: How likely are you to have a claim and how much will it cost. Here are a few specifics:
Please note: The above is meant as general information to help you understand the different aspects of insurance. This information is not an insurance policy, does not refer to any specific insurance policy, and does not modify any provisions, limitations, or exclusions expressly stated in any insurance policy. Descriptions of all coverages and other features on this page are necessarily brief; in order to fully understand the coverages and other features of a specific insurance policy, we encourage you to read the applicable policy and/or speak to an insurance representative. Coverages and other features vary between insurers, vary by state, and are not available in all states. Whether an accident or other loss is covered is subject to the terms and conditions of the actual insurance policy or policies involved in the claim. References to average or typical premiums, amounts of losses, deductibles, costs of coverages/repair, etc., are illustrative and may not apply to your situation. We are not responsible for the content of any third-party sites linked from this page.
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Davidson Calfee is the Owner and President of Operations, overseeing overall portfolio management, agency relations and new business generation. He has a natural ability to manage complex situations and achieve outstanding results for his clients.
Calfee is constantly looking for ways to improve professionally and has worked diligently to revamp his team’s handling of the needs and expectations of his clients.
Calfee specializes in developing, designing and implementing complex property catastrophe insurance programs for his clients. His market knowledge and client service skills have made Calfee a sought-after property resource for Massachusetts coastal residents.
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