Homeowners Insurance - Selecting the correct amount of insurance coverage

Consider these scenarios:

  • If your home was destroyed by fire or damaged by a natural disaster, you’d need money to repair or replace it.
  • If a guest in your home is injured, liability protection and medical coverage help pay expenses.
  • If you are a victim of theft and vandalism, insurance can reimburse you for your loss or pay for repairs.
  • If you are still paying for your home, your lender will require insurance.


The amount you pay for your homeowners insurance depends on many factors. Think of your personal housing situation, and the assets you want to protect.

  • Are you a home or condo owner, a renter, or a landlord? As a home or condo owner, you want to make sure you’re protecting your home, your possessions, and yourself, family and guests in the event of damage or injury. Renters will want to protect their possessions, which wil not be covered by a landlord’s insurance. And landlords want to protect their properties, while protecting themselves from liability. Note: Liability coverage is not included in our standard landlord policy, but is available as an add-on coverage.
  • Do you have collections of art or other valuables? Your homeowners insurance generally covers the contents of your house. However, there are often limits on items like jewelry, paintings, or other collectibles. Adding a scheduled personal property endorsement can provide coverage for your special belongings, with no deductible. Creating an inventory of your home or property’s contents is a good idea.
  • Are you concerned about out-of-pocket expenses if your home or property becomes unlivable? You may find yourself with extra, unforeseen expenses, for repairs, replacements, or living costs. Your policy can help cover those.