A standard homeowners insurance policy typically provides the following coverage:

• Dwelling – Protects your home from covered events such as fire damage.
• Other structures – Covers structures on your property that aren’t connected to your main house, like a garage or fence.
• Personal property – Pays to replace or repair personal items that are damaged or stolen in a covered loss.
• Emergency Living Expenses – Helps pay for extra living expenses if you’re unable to live in your home after a covered loss.
• Personal liability – Protects you financially if you’re responsible for property damage or someone else’s injuries. For example, if someone is hurt in your yard.
• Medical payments – Protects you if a guest is injured on your property—whether you’re responsible or not—by taking care of their medical bills.

Your insurance policy’s declarations page is a document that summarizes some key information about your policy. Also known as a “dec page,” it explains things like how much coverage you have, when your policy takes effect and how much it costs. Put simply, it’s an overview of the key parts of your insurance policy.

Home insurance rates are based on a variety of different factors, such as how much coverage you need, the location and age of your home, and your claim history. Each insurance company decides what factors are important and how much weight to give each factor.

Your home insurance deductible is the amount you pay out of pocket before your insurance kicks in. A higher deductible means you’ll pay more out of pocket in the event of a claim, but it could also lower your premium.

Whether you have a homeowners, condo or renters policy, highly valuable items are protected by your personal property coverage, also called Coverage C. However, the amount of coverage you have for these items may be limited. That’s because highly valuable items are more likely to be stolen. If you don’t think your coverage limits are high enough, you can purchase additional coverage to fully protect the pieces you value most.