A homeowners insurance is a type of insurance for your property. It is a comprehensive plan that covers any damage to the structure, interiors or exteriors, detached structures, loss of assets and personal belongings in your home. It also covers medical expenses if a guest or a visitor suffers an injury, like a fall, on your property. Furthermore, coverages can be personalized as per your needs. Listed below are some benefits of a homeowners insurance.

Homeowners insurance benefits
Homeowners insurance helps you cover the expenses of repairing and replacing anything inside or outside your house. Other main benefits include:

• The protection of main and detached structures like a cellar, gazebo, garage, and other structures like fences and guest houses.
• All your possessions, like furniture, sports equipment, clothes, and electronics, are covered if the damage occurs due to a covered loss.
• You can get coverage for loss and damage due to natural disasters coverage. This however varies from one provider to another.
• It covers valuables like gold, silver, and fur except for loss due to theft.
• It provides coverage for plants and trees within your property. It also offers protection for damages caused by fire, theft, vandalism, and riots.
• If a guest sustains bodily injuries, the policy compensates for pain and suffering, loss of income, and hospital expenses.
• If your homeowners insurance does not cover a specific concern, like a system breakdown or water backup coverage, you can add these endorsements at an additional cost. The type of endorsements provided varies across insurance providers.

Homeowners insurance calculator
You can use online tools like a homeowners insurance calculator to estimate your annual or monthly insurance costs. List the detached structures, assets, and personal belongings in your home. Now, gather the following information:

• The estimated cost of rebuilding your home
• The estimated value of your personal belongings you want to cover
• The estimated value of assets
• The coverage limit you want for each item
• The coverage limit for personal liability

The online calculator uses factors like your home’s location, age of the building, area of your house, number of rooms, building type, and the condition of wiring and plumbing. You should also provide the amount of deductible you want to pay and furnish information about your credit score and claims history. Keep in mind that the estimate provided by the tool should only be used as reference. Always consult with an insurance provider to know the actual monthly costs you will end up paying.

Homeowners insurance quotes
Many leading insurance companies offer homeowners insurance policies, as it is popular and useful to save money on expenses and losses. Though coverage provided largely remains the same across companies, each provider has specific exclusions, endorsements, discounts, and offers.

To choose the best rates, you can compare quotes using online tools. You can also call the companies and request a quote or get estimates on various websites. This allows you to compare quotes from multiple providers. USAA, Nationwide, Lemonade, Chubb, Erie Insurance are a few top-rated homeowners insurance providers in the country.