#schoolofpersonalfinance #homeownersinsurance #personalfinance #moneybasics #financialfreedom
Learn everything you need to know about homeowners insurance. How much coverage should you have? What is a deductible?
A homeowners insurance policy protects you against unexpected damage to your home or your personal belongings caused by specific events. (Also known as perils) You pay a monthly or an annual premium to the insurance company in exchange for financial protection.
It is important to verify what is covered and what is left out of your specific policy. A standard policy includes things like a loss from fire or smoke, theft, lightning, vandalism, damage from vehicles or aircraft, along with liability coverage if someone was to get injured on your property. Most policies exclude coverage from damage caused by flooding and earthquakes.
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