Home Owners InsuranceDependable, Affordable Insurance Protection for Your Home and Personal Property

Today’s homeowners want more from their insurance company.

Coverage that gives you and your home the protection you need. Rates you may find surprisingly low at the start — and that get even better with the many discounts available!

Homeowner Coverage Guide

Coverage A: Dwelling Property

Dwelling coverage protects your house and any structures attached to your home, like the garage and the screened porch. Materials on your property that are being used to expand or repair the house — the lumber being used to add another wing, for example, would also be covered.

Coverage B: Other Structures

Separate structures on your property — like utility sheds, guest houses, gazebos and pool houses — are covered under other structures coverage. Dwelling coverage in a homeowner's policy only protects your house and attached structures.

Coverage C: Personal Property

This part of your homeowner's policy protects your belongings anywhere in the world, but there are a few limitations you should know about:

  • There are restrictions on the amount a standard homeowner's policy will pay on some items — jewelry or furs, for example (you can buy additional coverage for them separately).
  • The standard reimbursement for items that are damaged, lost, or stolen is their actual cash value — (original value minus depreciation). If you want to be reimbursed for what it will cost to replace them, select the replacement cost option.
  • Although the policy covers your possessions everywhere, it pays less for losses incurred off your property. For example, a homeowner's policy might pay only 10% of its usual limit for loss on an item that your child took away to college.

Personal Property Exclusions and Limitations

There are some important exclusions and limitations on the coverage for personal property. A homeowner's policy does not cover:

  • Software or disks
  • Animals, birds, or fish
  • Motor vehicles
  • Aircraft and aircraft parts
  • Property of persons who are your tenants, unless they are related to you
  • Paper records, drawings, account books

Coverage for other personal items is also limited. It is important to read the list of exclusions and limitations on your individual policy. You may want to purchase additional insurance for items you own that have only limited coverage in a homeowner's policy.

Coverage D: Loss of Use

All homeowners policies provide essentially the same coverage for loss of use. Loss of use provides protection for such things as additional living expenses related to maintaining the normal standard of living of the household after a loss.

Coverage E: Personal Liability

Liability insurance covers you for money you are legally obligated to pay because a court has found that you were responsible for damage to another person's property. Personal liability insurance applies separately to each insured, but total liability coverage resulting from any one occurrence may not exceed the coverage limit stated in the policy.

Coverage F: Medical Payments to Others

Medical payments insurance is homeowner's coverage that compensates others who sustain an injury while on your property, or whom you injure accidentally. (Like a delivery boy who slips on a banana peel in your kitchen, or a guest your child accidentally hits with a badly pitched ball.) This coverage excludes the people who live in your house.

Homeowner Insurance Tips

If you own a home, rent, or are thinking of buying a home, here are tips on how to ensure you have adequate coverage. It is vital to understand the importance of homeowner insurance so you have adequate coverage when you need it.

  1. Homeowner Insurance is a Necessity
    Homeowner insurance protects your assets in case of a loss. If you lose your home and your possessions in a covered catastrophe, the policy will cover at least part of the cost. It also protects you from being liable for accidents that happen on your property and damage to other properties.

  2. How Much Coverage Do You Need?
    Periodically updating the coverage on your home may help reduce the amount you pay out-of-pocket in case of a loss, or a claim. Different packages of insurance coverages are available for homeowners and renters. Coverage for specific events are listed in each coverage, and usually include events such as theft, fire, and windstorm. Most homeowner policies also include additional types of coverage for personal liability, property damage, medical payments and additional living expenses, which covers the cost of temporary housing in case the home becomes uninhabitable. Contents and personal property will also affect the cost of the coverage. Other items, such as a swimming pool, or a shed, will likely increase liability costs. If there is a mortgage on the home, the lender may require a certain amount of insurance coverage. You should add additional coverage for items such as jewelry, antiques, art collections, and other high-priced items.

  3. Don’t Forget About the Deductible
    A deductible is the amount of money paid out-of-pocket for each claim filed on your house and personal property. Generally, policies with higher deductibles are less expensive than policies with lower deductibles. However, it is important to feel comfortable with the amount of deductible you will have to pay in case of a claim.

  4. Replacement Cost vs. Actual Cash Value
    These are the valuation options for which you can insure your home. Insurance for replacement cost means your home is insured for the amount it would take to replace, rebuild, and repair damages with materials of similar kind and quality, at today’s costs. Actual cash value means the amount needed to replace, rebuild, and repair your home and contents after depreciation. You may also insure over the home’s value, to allow for higher construction costs, so you may not have to pay out-of-pocket.

  5. Find Out About Discounts and Credits
    There are many different homeowner insurance discounts and credits offered at Eaton Insurance. This includes newer homes, added security/fire protections, renovator credit, and insuring both home and auto with us. Ask your agent about discounts and credits available for you and your home.

  6. Read Your Policy
    An insurance policy is a legal contract. Your responsibilities as a policy holder are included under the contract. You should also read the policy carefully so that you understand your home's coverage. Also remember to keep your policy documents in a safe and secure place.

  7. Review Your Policy Every Year
    Additions, remodeling, and home improvements will often add to the value of your home, possibly leaving you with inadequate coverage. Keep this in mind when making home improvements. Remember to review your policy every year to make sure that the coverage is up-to date.

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