Auto insurance
Liability, physical damage and the coverages that matter after a collision, for the vehicles your household drives.
Auto insurance- Home
- Personal insurance
- Home, condo and renters
Home, condo and renters
Home, condo and renters insurance
The house, the unit or the apartment, what is in it, your liability as a resident, and somewhere to live while repairs are made.
Who needs it
Who this is for
If you own it, insure the structure and the contents. If you rent it, insure the contents and your liability.
- Homeowners replacing or reviewing a policy
- Buyers who need a policy to close
- Condo owners whose master policy leaves the interior to them
- Renters whose landlord's policy does not cover their belongings
- Owners of homes with pools, trampolines, home businesses or short-term rentals that change the risk
What it covers
Coverage parts, and what to watch on each
Summaries only. The policy wording governs, and every carrier's form is different.
| Coverage | What it does | What to watch |
|---|---|---|
| Dwelling | The structure and attached parts, at the cost to rebuild. | Rebuild cost is not market value. Underinsuring the dwelling is the most common gap we find. |
| Other structures | Detached garage, fence, shed, usually at 10 percent of the dwelling limit. | Large outbuildings may need the limit raised. |
| Personal property | Furniture, clothing, electronics and everything else you own, on or off premises. | Jewelry, art, collectibles and firearms carry low sublimits unless scheduled. |
| Loss of use | Hotel, rent and added living costs while the home is uninhabitable after a covered loss. | Check whether it is a dollar limit or a time limit. |
| Personal liability and medical payments | Injuries and damage you or your family cause to others, at home or away. | Usually $300,000 to $500,000. An umbrella sits above it. |
| Water backup, service line, equipment breakdown | Common endorsements for losses standard forms exclude. | Sewer backup is excluded on most base forms and is one of the most frequent claims. |
The hard part
What it does not cover
- Flood (separate policy, usually with a 30-day wait)
- Earthquake and earth movement
- Wear, maintenance, mold and pests
- Sewer backup without the endorsement
- Business property and liability beyond small limits
- Short-term rental guests without the right endorsement
The association's master policy, the landlord's policy and your own policy each cover a different thing. We map which is which before you buy.
How to get it
From first call to bound coverage
- 01Estimate rebuild costWe run a replacement-cost estimate rather than reuse the old limit.
- 02List what needs schedulingJewelry, art, instruments, collections and equipment.
- 03Add the endorsementsWater backup, service line, equipment breakdown and ordinance or law, as appropriate.
- 04Coordinate with autoBundling usually helps the price and makes the umbrella simpler.
Questions
Common questions
Should the dwelling limit match the purchase price?
No. The limit should be the cost to rebuild the house today, which can be higher or lower than market value. Land is not insured; labor and materials are.
What does a condo master policy cover?
Usually the building and common areas, and sometimes the unit's original fixtures. Everything else, including upgrades, contents and your liability, is on your HO-6. Read the association's bylaws for the dividing line.
Is renters insurance worth it?
Yes. It covers your belongings, your liability if you cause damage or injury, and a place to stay after a fire. It is one of the least expensive policies there is.
Are my jewelry and art covered?
Only up to small sublimits, often $1,500 to $2,500 for jewelry theft. Items above that should be scheduled at an appraised value.
I rent my home on a short-term platform sometimes. Does that matter?
Yes. Most homeowners policies exclude or limit coverage for paying guests. There are endorsements and specialty policies for it. Tell us before the first booking.
Related
Often placed alongside
Personal umbrella
An extra layer of liability, usually $1M to $5M, that sits above your auto, home and other policies for the claim that exceeds them.
Personal umbrellaBusiness insurance
General liability, property, workers' compensation, auto, packages and cyber for businesses of every size.
Business insuranceSend us your declarations pages.
We compare them line by line and tell you what we would change, if anything.