• ONIT Insurance Group

What Is Homeowners Insurance?

Being a brand new homeowner can be one of the most stressful experiences in modern-day life. Not only do you have to qualify to buy a home, move into that home, and take on a mortgage in an economy that isn’t necessarily guaranteed to be stable, you also need to protect yourself from things that may or may not happen to you and your property. Fingers crossed. Navigating homeowner’s insurance can be hard if you don’t understand what it is, why you need it, or what coverages you need to protect yourself, your home, your personal belongings, and your financial future.

To sum it up quickly, home insurance provides you with a financial safety net by covering you, your home, and your personal belongings against losses and damages which can cost anywhere from a few hundred to thousands or even millions of dollars, depending on the value of your assets and extent of the loss/damage.

In addition, most standard homeowner’s insurance policies also provide important coverages such as:

  • Medical payments: provides coverage if a guest is injured at your home whether you’re to blame or not

  • Liability: covers you against lawsuits for injury and/or property damage to others caused by you or members of your family, which can include your household pets

  • Additional living expenses: covers extra costs of living away from home if it is uninhabitable due to damage from a covered loss/claim. Those expenses can include rent, hotel stays, restaurant meals, storage fees and more.

What isn’t covered by a standard homeowner’s policy?

While homeowner’s insurance covers many types of losses and damage, there are exceptions. For example, flood insurance and earthquake insurance are not standard coverages on a homeowners policy; to obtain coverage for these types of losses, you would need to request to have the coverage added to your homeowners policy by way of an endorsement, if the endorsement is not an available option, you would need to purchase a separate policy.

Vacant properties, tenant occupied properties, and non-owned/rented properties are also not covered on a standard homeowners policy and would require a different type of policy.

It must be noted that poor home maintenance often contributes to disasters or accidents. You can see it in shows like A&E’s Hoarding. Maintenance-related problems are the homeowners' responsibility, though there may be niche insurance or warranty products on the market which provide maintenance related repairs and/or protect against appliance wear and tear.

If you would like more information about Insurance policies and coverages, please don’t hesitate to call us at 1-800- 610-2134, we will be happy to help you with whatever you need!


Hurst, TX 76053


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