Definition
Homeowners insurance covers the home structure, contents, and liability. Lenders require coverage equal to home replacement value.
Where you’ll meet it
What should I look for, and what's a red flag?
See it in Buying my first home · Step 3About this term
Homeowners insurance protects against damage from covered perils like fire, theft, and liability claims. Lenders require coverage equal to home replacement value.
Pro Tip
Shop insurance quotes from multiple carriers. Rates vary significantly for identical coverage.
Example
Homeowners insurance policy with $350,000 dwelling coverage and $100,000 liability limit.