Consumer's Guide to Homeowners Insurance

Home insurance is an expensive purchase for many Americans. This guide provides information on how to make decisions that can lower the cost of your home insurance and increase the value you receive.

Although home insurance is not required by law in most states, if your home is mortgaged, your lender may require the purchase of insurance on your home.

To get the best value for your money, you must take responsibility for your home insurance purchase and make your own decisions.

The coverages offered to homeowners are typically contained in a package of liability and property coverages. The Consumer Guide principally addresses the package of coverages found in a "homeowners" policy. It does not address the more limited offerings of fire and extended coverages. It does not address the state special programs established to meet special needs including availability. Contact your states insurance department for more detail about special conditions of programs in your state.

Owners: to protect both your house and personal property.

Tenants: to protect your furniture and other personal property.

Everyone: protection against liability for accidents that injure other people or damage their property.