Home Insurance Policy Options

A standard home insurance policy pays the cost to repair or rebuild your home and personal possessions following a covered disaster.

A standard home insurance policy will cover damage caused by the following perils, up to your policy limit:

• Storms (including snow, rain, wind and hail)
• Fires
• Lightning
• Tornadoes

If you have other structures on your property, like gazebos or sheds, your home insurance policy will cover these as well.

Liability insurance, which protects you against lawsuits should an accident occur on your property, is also included in a standard home insurance policy.

There are several exclusions in a standard home insurance policy.

Homeowners must purchase additional coverage to be protected from the following risks:

• Flood Damage - As residents found out following Hurricane Katrina, flood damage is not covered under a standard home insurance policy.
• Earthquake Damage - The damage caused by earthquakes is not covered under a standard home insurance policy.
• Damaged/Lost Luxury Items - If you own a diamond ring or other pricey luxury item, you may need a rider (sometimes called a "floater") to fully cover the item against damage or loss.
• Business Endorsements - Do you work from home or run a home-based business? If so, you may need a business endorsement to cover work-related activities or loss.

For a detailed list of home insurance exclusions, check out InsWeb's 10 Perils Home Insurance Won't Cover.

To compare home insurance quotes from leading national providers, visit InsWeb's home insurance quote form.