Homeowners insurance is generally not required by law, but mortgage lenders commonly require property insurance while a loan remains active. Requirements vary by lender, property, and financing agreement.

A homeowners policy commonly includes dwelling, other structures, personal property, loss of use, personal liability, and medical payments coverage, subject to the policy’s limits, deductibles, exclusions, conditions, and endorsements.

Dwelling coverage is generally based on an estimated cost to rebuild the insured home with comparable materials and features rather than simply using its real-estate market value or mortgage balance.

No. Market value reflects real-estate factors such as land and location. Insurance replacement cost focuses more on the estimated expense of reconstructing the insured structure after a qualifying covered loss.

Certain sudden and accidental water losses may be covered depending on the source and circumstances. Flooding, long-term leakage, repeated seepage, wear and tear, and maintenance-related damage may be excluded or treated differently.

Standard homeowners policies generally do not cover flooding or surface-water losses. Separate flood insurance may be available and should be reviewed when appropriate.

Standard homeowners policies generally exclude earthquake damage. Separate earthquake insurance or an available endorsement may be needed depending on the company and state.

Personal-property coverage may help with eligible covered belongings, subject to applicable limits, deductibles, exclusions, special sublimits, and valuation provisions.

Certain valuable property can have special policy limits. Scheduled personal-property coverage may be available for eligible jewelry, watches, artwork, collectibles, and other high-value items.

Personal liability may help when you are legally responsible for certain covered bodily injury or property damage involving another person, subject to policy limits, exclusions, and conditions.

Loss-of-use coverage may help with qualifying additional living expenses when a covered property loss makes the insured home temporarily uninhabitable.

Certain detached garages, sheds, fences, and other qualifying structures may be covered under other-structures coverage, subject to the applicable limit and policy provisions.

Coverage depends on the policy, how the solar system is installed, whether it is owned or leased, and how the insurance company classifies the equipment. Solar systems should be disclosed.

A pool can affect liability exposure, underwriting, eligibility, and safety requirements. Insurance companies may ask about fencing, gates, slides, diving boards, spas, and other features.

Homeowners coverage for business property, inventory, customers, and business activities can be limited. An endorsement or separate business insurance may be needed.

You may need the property address, year built, square footage, roof information, plumbing and electrical details, heating system, occupancy, property features, renovations, current insurance, mortgage information, and prior loss history.

Roof age, condition, material, replacement history, and remaining useful life may affect eligibility, coverage options, inspections, settlement provisions, and pricing depending on the insurance company.

Different deductible options may be available subject to insurance company guidelines. Changing the deductible can affect both premium and the amount you may be responsible for after a covered claim.

Homeowners insurance is generally designed for qualifying covered losses rather than routine maintenance, deterioration, aging materials, or gradual damage. Coverage depends on the actual cause of loss and policy terms.

Some insurance companies offer multi-policy options or discounts when eligible auto and homeowners policies are placed together. Availability and savings vary by insurance company.

Consider reviewing coverage at renewal and after major changes such as remodeling, adding rooms, replacing the roof, installing solar panels, adding a pool, building a detached structure, changing occupancy, or purchasing valuable property.