A standard homeowners insurance policy typically provides financial protection for your insured property, certain personal belongings and living expenses during a covered incident.
Most claims involve natural disasters, theft and accidents. Let’s say a storm hits your city. If you have sufficient homeowners insurance coverage, your policy could pay for the damages caused by wind and hail.
However, insurance has limitations. While homeowners insurance may pay for wind and hail damage, it might not compensate you for damages resulting from uncovered causes, like flooding or earthquakes. Understanding the scope and limits of your policy will help you gauge how much home insurance you need.