What can home insurance provide coverage for?
Home insurance can provide coverage in three main ways:
- Dwelling: Dwelling coverage helps pay for damage to the structure itself caused by sudden, accidental events like fire, wind, lightning, falling objects and vandalism. This is the coverage homeowners generally think of first when selecting insurance.
- Personal Property: Personal Property coverage is for personal property you own, or even just use. I'm talking about items from furniture and electronics to pots and pans to lawnmowers and garden tools. If these items are lost or destroyed by a covered event, your policy can help if you need to replace them.
- Liability: The third component of your home policy is liability coverage. It can provide coverage to help you in case you're financially responsible for injury to others or damage to their property if covered under the policy. This coverage extends beyond your home and in fact follows you anywhere in the world.
Home Insurance Coverage Options
With a Farmers homeowners insurance policy, choose coverages and options you want for your home and personal property. Start by choosing one of our standard coverage levels – Farmers Smart Plan Home® Standard or Enhanced packages, or Farmers Next Generation® Homeowners. Then make it your own with optional coverages, limits, and loss settlement options of your choice, including:
- Guaranteed replacement cost: Don't worry about escalating construction costs – for covered losses, with Guaranteed Replacement Cost, we'll guarantee coverage for the full cost to rebuild your home, even if it exceeds your policy limits.
- Fortified Roof™ Upgrade: As climate change makes weather events more frequent and more severe, you can choose coverage so your roof can be rebuilt to enhanced standards to help resist severe storms.
- Water backup and sump overflow: This additional option can provide coverage for water damage caused by water backing up through drains and sumps.
- Cyber and identity shield: Coverage for many forms of identity theft and cyberattacks, and monitoring services to help you prevent them from happening.
- Emergency mortgage assistance: If your home is uninhabitable after a covered loss, the last thing you want to worry about is keeping up the mortgage while dealing with an emergency. This coverage can provide three months of mortgage payments, up to $10,000, while your home is uninhabitable when you rebuild.
- Home sharing: Helps pay for covered losses associated with renting part or all of your home through a home sharing business.
Let's discuss your insurance options, so you can choose the coverage you want. This information provides only a general description of coverages and potential discounts. Coverages and discounts are subject to the terms, limits, provisions, exclusions, restrictions, and conditions in the policy including applicable endorsements. Contact Farmers for details and additional information.
