Nadler Insurance
Insurance EducationVideo

Coverage Explanation: Homeowners Insurance

By Zach Nadler·

Show Notes

Quick summary

Homeowners insurance is designed to protect your home, your belongings, and your liability exposure. This episode explains the main parts of a homeowners policy and the gaps people often overlook.

The main parts of a homeowners policy

  • Dwelling coverage: helps repair or rebuild the structure after a covered loss.
  • Other structures: sheds, fences, detached garages.
  • Personal property (contents): your belongings inside and outside the home (often with special limits for valuables).
  • Loss of use: temporary living expenses if the home is not livable after a covered loss.
  • Personal liability: helps if someone claims you caused injury or property damage.
  • Medical payments to others: smaller, no-fault medical coverage for guests in certain situations.

    • Deductibles: what to know

  • Many policies have separate deductibles for wind, hail, or other perils depending on location.
  • A higher deductible can lower premium, but increases out-of-pocket cost on a claim.

    • Common gaps to consider (confirm from video)

  • Flood (usually excluded and needs separate coverage)
  • Earthquake (often excluded and needs separate coverage)
  • Water backup / sewer backup (may require an endorsement)
  • High-value items (jewelry, art, collectibles) often need scheduling

    • Questions to ask when reviewing your homeowners policy

  • Is my dwelling limit based on rebuild cost, not market value?
  • Do I have replacement cost on contents?
  • What are my special limits for valuables?
  • Do I have coverage for water backup?
  • Does my liability limit match what I would want in a serious claim?

    • Video

  • Watch here: https://youtu.be/NbXTJju1sP0?si=FUQu-1glBfXaX4de

    • Notes