Frequently Asked Questions

What Types of Events Are Covered by Home Insurance?

A standard homeowners insurance policy typically protects your home and belongings against losses or damage caused by a variety of covered events, including:

• Fire
• Smoke
• Lightning
• Windstorms
• Hail
• Vandalism
• Explosions
• Theft or burglary
• Falling objects
• The weight of ice, snow, or sleet
• Damage caused by aircraft, cars, or other vehicles

Coverage can vary depending on your policy, so it’s important to review your coverage and speak with your insurance provider to make sure you have the protection you need.

What Events Are Excluded from Home Insurance Protection?

Most standard homeowners insurance policies do not cover certain risks or types of damage, including:

• Earthquakes
• Flooding
• Normal maintenance issues
• Sinkholes
• Pest infestations
• Sewer backups
• Mold
• Damage caused by pets
• War
• Nuclear hazards
• Government actions
• Rust, corrosion, or deterioration
• Power outages or failures

Coverage exclusions can vary by policy. If you’re concerned about any of these risks, talk with your insurance provider about whether additional coverage or a separate policy may be available.

Is Homeowners Insurance Required?

Homeowners insurance is generally not required by law, but having coverage is strongly recommended. Without insurance, you could be responsible for paying out of pocket for costly repairs, replacements, or other expenses resulting from covered risks, theft, or unexpected events. Additionally, mortgage lenders often require homeowners insurance as a condition of the loan.

Why Should I Get Home Insurance?

Homeowners insurance can help protect one of your most valuable investments—your home. If your property is damaged by a covered event, your policy may help pay for repairs or rebuilding. Depending on your coverage, it may also help protect your personal belongings, provide liability protection if someone is injured on your property, and offer additional living expenses if your home becomes uninhabitable after a covered loss.

Having the right coverage can provide financial protection and greater peace of mind when unexpected events occur.

Are Home Insurance Policies Tax Deductible?

In most cases, homeowners insurance premiums are not directly tax-deductible for personal residences. However, different tax rules may apply if you use part of your home for business purposes. In certain circumstances, a portion of your homeowners insurance may qualify as a business expense.

Because tax rules depend on your individual circumstances, it’s best to consult a qualified tax professional to determine whether you may be eligible for a deduction.