Best Homeowners Insurance Companies of 2022

When you decide to purchase a home, and you use a mortgage to pay for the home over time, you are almost certainly going to be required to carry homeowners insurance.

This protects the lender in case anything happens to the home in terms of damage or other loss of value.

Purchasing insurance of any kind can be complicated and problematic, because you want to make the correct choice for your needs and within your budget. One of the problems is that there are many companies to choose from and many decisions to be made in terms of coverage options.

Below, we offer suggestions about companies that offer reliable and affordable home insurance policies. But first, let’s look at what homeowners insurance actually provides, and what it does not provide.

What Does Homeowners Insurance Cover?

Like any other type of insurance, a homeowners policy doesn’t cover everything. But there are some coverages that most basic policies offer.

Fire and smoke damage are covered by most home insurance providers. Other situations usually covered include weather damage (such as windstorms), internal water damage, theft, vandalism, snow and ice damage and explosions.

Homeowners insurance also covers your personal property and can cover the cost of living elsewhere if you need to move out during a home repair or rebuild.

Insurance companies offer additional coverage for natural disasters like floods and earthquakes, but these types of disasters usually aren’t covered by a regular policy. If you live in an area prone to flooding or earthquakes, you may want to opt into this additional coverage.

It will cost you more on your monthly premium, but if you ever need to file a claim, it’ll be worth it when you can repair or rebuild your home rather than losing all the money you’ve put into it.

Choosing the Best Homeowners Insurance

What qualifies as the best homeowners insurance policy for you might not qualify as the best for your sister or your neighbor. Before…

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