Homeowners insurance is just like insurance for your health or vehicle. It protects you when less than ideal things happen. Additionally, lenders require borrowers to have a policy before they can close on a home. Here are the 3 essential types of coverage:
Structural Coverage
If your home is damaged or destroyed by a fire or natural disaster, your policy will pay to repair or rebuild the home. This usually includes damage to the garage and even a shed.
Personal Belonging Coverage
There are a variety of personal items that are covered in the event of a theft or destruction. Furniture, clothing and the like.
Liability Protection Coverage
If someone gets injured on your property, this coverage will cover you against bodily injury lawsuits. It will also even pay for damage caused by pets.