Homeowners Insurance Basics - Urban Living @ Keller WIlliams Tampa Central Real Estate
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Homeowners Insurance Basics

Homeowners Insurance Basics

Homeowners insurance is not the most exciting aspect of owning a home, but you’re likely to come across it at some point in your life, if you haven’t already. In fact, to secure a mortgage, you will be required to obtain a homeowner’s insurance policy. It pays to at least know the basics!


What Does Homeowners Insurance Cover?


Damage to the interior and exterior of the home


If your home is damaged in a hurricane, fire, or lightning storm, an insurance policy should cover repairs and may possibly recover rebuilding the damaged portions of your home. On the other hand, damage from earthquakes and floods is not covered. Likewise, you’re on the hook for damage form maintenance that has been neglected.


Personal Property


Many homeowners insurance policies provide coverage for personal property. If an item is stolen or damaged in a covered event, insurance will help to cover the cost of replacing that item.




Homeowners insurance also covers claims for repairs or medical expenses if something on your property damages another’s (like a tree falling on your neighbors home) or someone hurts themselves.



What Isn’t Covered?


Most homeowners insurance policies don’t cover what the industry refers to as natural disasters or “acts of God” and war. Typically, additional riders or policies are needed for earthquake, flood and health insurance, especially in areas with a history of those occurrences.