What is covered with home owners insurance?

Answer 1

That depends on the type of home insurance policy and scope of coverage you purchased. All home insurance policies are not the same

There are many types of home insurance policies available.

Fire Insurance covers the peril of Fire.

HO1 policies typically cover Actual Cash value for fire wind and hail damage along with optional owners liability and possibly burglary coverage.

HO2 Policies generally provide the same coverage as above along with extended coverage and the option to purchase endorsements for accidental water discharge and optional replacement costs in the event of a loss.

HO3 policies, often referred to as "All Risk" policies offer the broadest scope of coverage and typically offer replacement valuation on structure and contents.

In addition there are literally dozens of endorsements you can purchase to cover specific risk exposures such as jewelry and various other personal property and unique risks.

What your Home insurance covers depends on what coverage you purchased.