Unlike car insurance, North Carolina doesn't require people to have homeowners insurance on their property. However, it's a valuable investment, which is why most mortgage lenders require it. To learn more about what this type of insurance is and why it's so essential, review some of the most common types of coverage below.

What Does Homeowners Insurance Include?

1. Liability Coverage

Liability coverage protects you if someone is accidentally injured on your property. It pays for repairs and medical treatment, as well as any legal fees arising from the incident. For instance, if your dog bites a passerby or a guest trips on your front steps, your homeowners insurance will cover the costs.

2. Dwelling Coverage

Dwelling coverage pays for damages to the structure of your house, including the roof, siding, walls, floors, foundation, and basement, caused by many incidents. These typically include fire, windstorms, falling objects (including snow and rain), and vandalism. Most insurers exclude damages caused by flooding and earthquakes in their homeowners insurance policies, though you can buy these types of coverage separately.

3. Personal Property Coverage

Personal property coverage pays for losses in your house, as well as belongings you keep elsewhere, such as in a storage unit. Like dwelling coverage, it covers damage due to fires, storms, vandalism, and falling objects, with the addition of theft. It even covers losses that occur while you're traveling. For example, if your laptop is stolen while you're on a business trip, it'll be covered.

If you need help creating a homeowners insurance policy that meets your unique needs, contact IGO Insurance in Raleigh, NC. They’ve served residents throughout the state for over 50 years, also offering auto, business, life, and health insurance. To request an insurance quote from an expert today, message them online or call (919) 782-1560.