This section of the policy is the amount in which your structure (home) is covered for in the case of a covered loss, such as wind, rain or fire. Separate policies are required for coverage against earthquake or flood.
Other structures coverage is typically a structure not attached to the home, such as a fence, detached garage or shed. Most homeowner’s policies will include coverage for these. In the case of multiple other structures, you may be able to purchase more coverage than what the standard policy provides.
Your personal belongings are covered under this part of your policy. This provides coverage for your furniture, clothing, and other personal belongings due to a covered loss. Most policies will have sub-limits on certain items such as computers, jewelry and firearms. You can schedule certain property (such as jewelry) under the policy for an additional premium. Personal property coverage also comes in two forms, ACV & Replacement cost. ACV (actual cash value) covers your belongings by factoring in depreciation (Ex. A $1,000 TV, might have an ACV of $600 at the time of loss, due to being 2 years old). Replacement cost will cover the personal property for full replacement cost (Ex. The $1,000 TV, would be covered at value to replace with a new similar TV)
If your home is damaged due to a covered loss and you cannot stay in the home during repairs, this section will provide coverage for your living expenses during the construction / repair process.
This section protects you in the case of certain lawsuits brought against you or a covered family member. Some common instances covered under this, is a slip and fall on your property by a guest. Most homeowners insurance policies come with a standard of $100,000 in coverage, but some homeowners choose to purchase more. Having a pool for example sometimes leads to greater liability risk, and purchasing more coverage would be a good idea. This section can also provide coverage for animal liability. Check with your agent to see if that coverage is available with your breed of animal.