Sonia V. Reyna

In the US, coverage needs start with your home’s rebuild cost, not purchase price. Lenders typically require dwelling protection based on replacement cost.
Dwelling coverage protects the home, attached features, and major systems. Other structures coverage usually adds ~10% of dwelling limits for detached property.
Personal property coverage usually equals ~50%-70% of dwelling limits. Inventory belongings and consider scheduled coverage when jewelry, collectibles, or other valuables exceed standard caps.
Liability coverage can help with injuries, damage, and legal costs, while loss-of-use coverage helps pay temporary living expenses if a covered claim displaces your family.
Standard policies can offer named-perils or open-perils coverage but still exclude floods and earthquakes. Review deductibles and endorsements for likely gaps carefully.

How Much Homeowners Insurance Do I Need?

Common rookie moves included skipping renters insurance altogether and buying a policy without fully understanding it, leaving tenants exposed when losses happen.
Many renters assume a landlord's insurance protects them after fire, theft, or another disaster, but that coverage generally protects the building, not belongings.
Renters insurance can cover personal property, liability, and temporary living expenses after a covered loss, making it important protection for tenants to understand.
Prior nationwide estimates suggested only half of renter households carried insurance, highlighting a broad education gap around coverage and why it matters.
The coverage was described as relatively inexpensive, and clearer explanations from agents and insurers could help renters understand what their policies do and don't cover.