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Homeowners insurance provides financial protection in the event your home or its contents are damaged. It also provides protection if you or a family member are held legally responsible (liable) for the injuries to others or damage to their property. It's also required by most mortgage lenders.

There are different types of insurance policies that cover your home. They range from a basic policy, to those that will provide a much broader range of protection. Not all policies and coverages are available in all states.

What's covered; what's not

Most homeowner's insurance policies will cover damage caused by such perils as fire, windstorms, hail, lightning, theft, or vandalism. There are other homeowners' policies that cover additional perils as well. Typically, floods and earthquakes are excluded. It's important to talk to your agent to learn what your policy may and may not cover. And for those perils that are not covered, there may be supplemental insurance you can purchase.

What most standard homeowners' policies provide

• Dwelling coverage. Pays to repair or rebuild your home - including electrical wiring, plumbing, and heating and air conditioning - if damaged by a covered cause of loss. It's important to buy enough dwelling coverage to cover the cost to rebuild.
• Other structures coverage. Pays for damages to detached structures like garages, sheds, fences, and retaining walls on your property.
• Personal property coverage. Reimburses you for the personal items in your home that may be damaged or destroyed by a covered cause of loss, which could include your furniture, clothes, sporting goods, and electronics.
• Loss of use coverage. Pays your additional housing and living expenses if you must move out of your home temporarily while it's being restored.
• Liability insurance. Helps protect your assets and cover your defense costs in the event of a lawsuit because you or your family members are responsible for causing injuries or damage to other people or their property.

Additional coverage (optional):

• Backup of Water & Sewer coverage
• Buried Utility lines
• Equipment breakdown
• Extended replacement coverage on dwelling
• Riders for special property—Jewelry, antiques, firearms, collections, fine arts, musical instruments, cameras, etc. Current appraisals or receipts are critical for coverage on these items.

Renter's Insurance

Even if you don't own a home, you still have a lot at stake. Whether you rent a house, apartment, mobile home or live with someone you should consider a policy. After all, your personal belongings, like clothes, furniture, and electronics, have significant value. Renters insurance can help you protect that value without breaking the bank. So, no matter where you live, you can rent with peace of mind.

A renter's policy can cover:

• Damages to furniture, clothing, and other personal items
• Your personal belongings, whether they're in your home or elsewhere
• Personal liability for another's injury or their property, if damaged

You can also select policy enhancements and add-ons such as valuable items or extra coverage for your belongings for full replacement costs regardless of depreciation.

Condo & Townhouse

As a condo owner, you have unique requirements for protecting your property, because your building and your individual unit have separate needs. While your condo association may have an insurance policy on the property, a condo insurance policy covers your personal property and personal liability -- so you can rest assured that you're personally protected.

A condo policy can cover:

• Damage to your furniture, clothing, appliances, and other personal items
• Your personal belongings, whether they're in your home or elsewhere
• Common loss assessments made by the condo association for all unit owners
• Your personal liability in the event someone is injured, or their property is damaged

You can also select policy enhancements and add-ons such as valuable items or extra coverage for your belongings for full replacement costs regardless of depreciation.

A copy of your associations by-laws will ensure that your agent helps you secure the proper coverage to protect your exposure.