Homeowners Insurance Guide

Homeowners Insurance

Protect your most important investment with a homeowners insurance policy you can trust

Homeowners insurance

Protect your house — and your possessions — with homeowners insurance from our partner Homesite Insurance Group*.

For most people, owning their own home is the single biggest investment they’ll ever make. Homeowners insurance provides financial protection for that investment by covering your home and its contents against disaster.

What’s covered in homeowners insurance

Most homeowners insurance policies provide protection in four ways: damage to the structure, damage to the contents, loss of use, and liability protection.

If your home should be damaged or destroyed by one of the covered perils, you’ll be reimbursed the cost to rebuild up to the limits of your particular policy. Typical homeowners insurance will also cover outbuildings, or structures that are detached from your home such as sheds and garages, up to the policy limits. This is usually a percentage of the dwelling protection. So if your policy limit was 10 percent, for example, a $300,000 policy would cover a detached garage only up to $30,000.

All your personal property, including your clothing, furniture, appliances, and electronics, are also covered under your homeowners insurance policy. If your belongings are lost or damaged due to fire, theft, or any other covered peril, you will be reimbursed actual cash value or replacement cost value depending on the coverage type you select. Generally, personal property coverage is about 50 to 70 percent of the amount of insurance you have for the structure of your home (dwelling). A home inventory is a good way to see if you need to increase your personal property coverage and will aid in any claims process.

Covered perils include:

  • Fire or lightning
  • Windstorm or hail
  • Explosion
  • Riot
  • Aircraft
  • Vehicle
  • Smoke
  • Vandalism
  • Theft
  • Volcano
  • Falling object
  • Weight of ice, snow or sleet

If you have expensive furs, watches, or jewellery, you can purchase a floater for additional coverage. Earthquake and flood insurance are not part of the basic policy, but can be purchased separately.

Additional benefits

If your home should become uninhabitable due to a covered peril, your homeowners insurance policy will help reimburse you for the cost of temporary living expenses or loss-of-use expenses, including a hotel room and meals.

Homeowners insurance also covers you for the cost of bodily injury or property damage lawsuits from a third party that you might incur. If someone slips and falls on your property, your liability coverage will help you cover medical expenses and any court expenses, including judgments.

Your house is your home. Take steps to protect it with homeowners insurance. Get a quote today!

*Homeowner’s insurance policies are placed through Elephant Insurance Services, LLC with Homesite Group Incorporated. Homesite is a business associate that is not affiliated with Elephant and is solely responsible for these insurance policies. Elephant assumes no responsibility for the content or operation of the Homesite Group Incorporated web site. Information provided to Homesite is subject to its terms of use and privacy policy.

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Elephant cares about making homeowners insurance easy by answering the questions about your policy and other insurance options. From changing your policy, to factors that could impact your insurance rate, stay up-to-date on the latest news with our collection of homeowners insurance guides and articles.