Home Insurance FAQs
What does a standard HO‑3 policy cover?Dwelling, other structures, personal property, loss of use, personal liability and medical payments—subject to limits, deductibles and exclusions.
Is flood insurance included?No. Flood is usually excluded and purchased separately via NFIP or private carriers.
Are hurricanes a separate deductible?Often yes in coastal states. Named‑storm or hurricane deductibles may apply as a percentage of Coverage A.
How does roof age affect claims?Older roofs may be settled at actual cash value (ACV) rather than replacement cost. Keep installation proof and consider impact‑resistant materials.
Do I need ordinance or law coverage?It helps pay for code‑required upgrades after a covered loss. Useful in older homes or strict‑code jurisdictions.
What discounts can lower premiums?Bundles, monitored alarms, new roof, fortified features, water‑leak sensors and claim‑free history are common.
Is water backup the same as flood?No. Water backup covers certain drain/sewer backups; flood is rising water from outside and needs a separate policy.
What liability limit should I choose?Align with assets and risk; many choose $300k–$500k or add an umbrella policy for higher protection.
How often should I shop quotes?Annually or when major changes occur (roof, remodel, location, claims). Keep limits/deductibles comparable.
What is loss of use (ALE)?Additional living expense if your home is uninhabitable due to a covered loss. Check time/amount limits.
How do inspections impact eligibility?Unrepaired roof damage, outdated electrical/plumbing, missing safety devices can cause surcharges or declinations.
Can I insure short‑term rentals?Depends on carrier appetite and local rules. You may need specific endorsements or a different policy form.
What is a wind/hail deductible?A higher deductible applied to wind or hail claims, sometimes as a % of Coverage A in hail/hurricane regions.
How do claims affect renewal?Claims can impact pricing and eligibility. Focus on prevention and document thoroughly to avoid disputes.
Do condos need loss assessment coverage?Yes, it can help when the association assesses unit owners after covered losses to shared property.