What does homeowners insurance cover?
The typical homeowners policy has two main sections: Section I covers the property of the insured and Section II provides personal liability coverage for the insured. Almost anyone who owns or leases property has a need for this type of insurance. Usually, homeowners insurance is required by the lender to obtain a mortgage.
Homeowners insurance typically covers you for: • the structure of your dwelling • other structures on your property • your personal belongings • personal liability The GMAC Insurance Homeowners Program* protects you against perils like fire, lightning, wind, explosion, theft, vandalism and a host of other specific causes of damage or loss. It also provides Loss of Use Coverage, which helps pay the additional expenses incurred if your home is damaged or destroyed in a covered loss and you have to live elsewhere temporarily. Call 1-866-675-3669 for more information, or try our free, no-obligation online quote form.
Homeowners insurance provides protection for your home, personal property such as furniture, clothing, appliances as well as for personal liability. It protects you from a variety of events, including fire, lightning, burglary, vandalism, storms, explosions, and more. Homeowners policies regularly provide other types of coverage, including off-premises theft protection and unauthorized use of your credit cards. Make sure you understand which provisions are included in the standard coverage you elect to purchase and which might require supplemental premiums. Homeowners policies do not cover flood damage.
Homeowners insurance consists of six different types of coverage to protect you and your property from damage as a result of repair, replacement, legal and medical expenses. Coverage A protects the structure of your home and other structures attached to it. Coverage B provides protection for other structures or dwellings on your property but not attached to your residence. Coverage C covers damage to your personal effects owned or used by you while anywhere in the world. Coverage D reimburses you for expenses you may incur if your home becomes uninhabitable due to a loss covered by the insurance policy. Coverage E provides coverage if another person brings a claim or lawsuit against you for bodily injury and/or property damage resulting from negligence on your property. Coverage F provides coverage for medical payments if a third party is injured by or on your personal property.
