Covers damage to property and loss of contents due to fire, smoke, theft, and burglary, along with other named perils in the policy.

You may need additional coverage for business equipment and liability, which might not be covered under a standard residential policy.

Notify your insurer immediately, provide necessary documentation including police reports for burglaries, and detailed inventory lists for claims.

Many policies offer coverage for additional living expenses if your home is temporarily uninhabitable due to a covered peril.

Vandalism is usually covered, especially if it occurs in conjunction with a covered burglary or fire event.

Policies typically pay either the actual cash value (depreciated) or the replacement cost, depending on the policy terms.

Installing security systems, smoke detectors, and fire suppression systems can often lead to premium discounts.

Many insurers offer discounts for things like bundling policies, installing safety devices, or maintaining a claim-free record.

Yes, you can usually adjust your coverage amounts or add additional coverages as needed by contacting your insurer.

Underinsuring your property can lead to ‘average clause’ penalties, where you receive less than the full value of your claim because the insurance amount was less than the value of the property.