Homeowners Insurance: Know What's Covered

Real Estate Broker/Owner with Antonelli Realty 3137972

If you plan to lead a conventional life, odds are you will need insurance. You’ll need health insurance, car insurance, and eventually home insurance. The latter is often the most perplexing since we have no prior experience with it as we do with health insurance.

What exactly is home insurance and how bullet-proof is your coverage? For starters, home insurance, in theory, provides you with financial protection against disasters. These disasters can involve your home, the contents of your home, or any liabilities within your property that could lead to a lawsuit…like when your dog bites the pizza delivery guy.

However, home insurance doesn’t mean your home’s invincible. Unless you’ve purchased specialized insurance, it can’t protect you against floods, nuclear war, earthquakes, or poor maintenance. Don’t slack off with your home’s upkeep—negligence does not go over well in insurance court.

The most common scenario with homeowners insurance, however, involves receiving some sort of compensation for damage to your property and its contents. For when the time comes, it is important to know how compensation is calculated. The insurance company will either pay for the repair, or you can get cash value. However, while you might have paid $500 for your grill, the insurance company will pay you back whatever the grill is currently worth, usually a lesser value.

Homeowners insurance is an expense you can’t avoid. And while it might feel daunting at first, there’s comfort in knowing that you’re protected against most calamities.


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Bob "RealMan" Timm
Tivoli Custom Homes - Minot, ND
Bob Timm, Project Coordinator for Tivoli Homes

I learned you have to ask what isn't covered Paul Antonelli .  One lesson was that regular home owners and flood insurance does NOT cover you from all water damage. In most cases you also need sewage back up coverage and sump pump failure coverage as well... and that may not cover all water damage.

May 22, 2018 11:39 AM #1
Michele Cadogan-Cell 917-861-9166
Fillmore Real Estate 2926 Ave J Brooklyn NY 11210 - Brooklyn, NY
Licensed Real Estate Associate Broker -

This is a good  post to share, especially with first time home buyers who may not understand the fundemantals of home insurance.  Thanks

May 22, 2018 08:31 PM #2
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Paul Antonelli

Broker Owner; Antonelli Realty
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