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Your home is your most valuable investment. Home insurance offers protection against a myriad of risks, including those that affect you and your personal belongings. To ensure you’re sufficiently covered, you should understand the following differences between policies and what exactly they cover. 

What Type of Home Insurance Do I Need?

1. Dwelling Insurance

This coverage protects your actual home and its features, including the roof, foundation, walls, ceilings, and floors. Most dwelling insurance protects against certain perils, such as fire, theft, storm damage, among many others. Standard dwelling coverage does not usually protect against flooding or earthquakes, which require separate policies. 

2. Personal Liability

If a person visits your home and is injured, you may be subject to a lawsuit. Personal liability provides funding for legal costs, including the cost of hiring an attorney, court fees, and damages if they’re awarded. It can also cover medical costs incurred by the injured party or costs for repairs to their property. 

3. Umbrella Liability

Lawsuits can become expensive rather quickly. Umbrella policies increase coverage limits to ensure you’re fully protected in the event you’re subject to costly litigation. An umbrella policy fills in the gaps between your liability coverage and what you actually owe, which prevents you from paying out-of-pocket. 

4. Personal Belongings

Home InsuranceAlong with your home structure, you can also secure coverage for the belongings kept in your home. This can include aspects like electronics, clothing, jewelry, and many other items. For items that are particularly expensive, you may need an additional rider. 

5. Other Structure Coverage

Many people have garages, gazebos, or other structures on their property that are not connected to their home. These structures should also be insured in the event they’re damaged. While some home insurance policies cover separate structures automatically, others may require you to purchase an additional policy. 

 

If you still have questions about what type of home insurance is best for you, it’s time to speak with an agent. Farm Bureau Insurance is here to help people purchasing homeowners’ coverage for the first time, as well as those unsatisfied with their current policy and looking for a change. Agents work with clients one-on-one to determine your specific risk profile. They’ll also keep your budget in mind to ensure the coverage you choose is affordable. Learn more about their home insurance packages and how they can save you money online. You can also call (850) 674-5471 to get started on your quote. 

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