Backed up sewers can cause thousands of dollars in damage to floors, electrical systems, walls, furniture and other belongings. Learn about causes of sewer backups, what you as a homeowner are responsible for maintaining and steps you can take to protect your home against sewer problems.
Shopping for your dream house? There are many considerations when looking at real estate, like property taxes, school district, the appeal of the neighborhood—and, of course, the bottom line. Don't overlook the financial implications of homeowners insurance as part of your overall investment. Use this guide to help think through all the costs associated with buying a home.
A violent storm damages your house. A grilling accident leaves your guest injured. A burglar breaks in. When an unfortunate event strikes close to home, you might need to file a claim with your insurance company. As part of the contract between you and your insurer, a claim against your homeowners policy comes with rules and procedures that both your insurer and you must follow.
In the event of a fire or other disaster, would you be able to remember all your possessions? Having an up-to-date home inventory will help you get your insurance claim settled faster, verify losses for your income tax return and help you purchase the correct amount of insurance. Here's how to create one.
Legally, you can own a home without homeowners insurance. However, in most cases, those who have a financial interest in your home—such as a mortgage or home equity loan holder—will require that it be insured. And, for your own ongoing financial protection, you'll want your home to have adequate homeowners coverage, as well.
Standard homeowners policies cover a wide range of potential disasters, from tornadoes to lightning strikes to winter storm damage. Policies do vary, though, so for your own peace of mind, check yours for the specific perils covered. Learn what's generally covered by each homeowners insurance policy type—and what's not. With escalating climate change risks, rising repair costs, and shifting insurance market dynamics, homeowners face evolving challenges in what is covered — and what isn’t.
Your standard homeowners policy doesn't provide flood coverage
Standard homeowners and renters insurance does not cover flood damage. Find out if you need flood insurance and learn where to get it. It's important to note that, as a rule, homeowners, condo owners, and renters insurance does not cover damage from flooding. To protect your home, be sure to understand the risk of flooding and your insurance options.
Because co-op and condominium owners share their building structures, two policies—a master policy and an individual policy—are required to fully protect all parties involved. Learn more about insuring a co-op or condo.
Yes. A person who owns his or her home would have a different policy from someone who rents. Policies also differ on the amount of insurance coverage provided.
