Thank you for attending this session on understanding homeowners insurance. We explored the main types of coverage, common exclusions, and practical steps you can take to protect your home and belongings.

Key Takeaways and Next Steps

Know Your Coverage Types

Homeowners insurance typically includes dwelling/building, other structures, personal property, loss of use, personal liability, and medical payments. Each serves a different purpose, so review your policy carefully.

Insure for Replacement, Not Market Value

Coverage should reflect what it would cost to rebuild your home, not what you paid for it or its current market price. Most states require at least 80% of the replacement cost to avoid penalties.

Understand Exclusions

Standard policies usually do not cover floods, earthquakes, or mudslides. If you live in a risk area, you may need separate insurance for those events.

Create a Home Inventory

Document your belongings using photos, videos, receipts, or apps. This will make claims easier and ensure you’re properly covered for personal property losses.

Check Policy Options

Ask your agent about replacement cost coverage for personal property (rather than actual cash value) and consider stronger policy types, like HO-5, for broader protection.

There are a large number of apps to help you keep track of your inventory.

Some to consider:

We are not endorsing any of these, but they typically get good reviews.

Disclaimer: This session was for educational purposes only and does not replace professional insurance advice. For coverage tailored to your situation, consult a licensed insurance agent in your state.