What is homeowners insurance?

by Kathryn Dean Posted in Insurance /   October 29, 2012


Homeowners insurance (also known as hazard insurance or abbreviated as HOI) provides coverage for catastrophic events that may occur to your home. It covers the house, contents, personal liability and medical payments exposures. Most mortgage lenders require homeowners to maintain homeowners insurance as a loan condition.

Glossary of insurance terms:

Insurance deductible

What you pay out of pocket after your claim is approved.

Insurance policy rider

Riders are optional coverages that are available to enhance your homeowners policy. Possible riders are jewelry riders, replacement cost coverage on your home, replacement cost coverage on contents, water/sewer backup, etc. For example, homeowners purchase riders when the valuables they wish to insure are excluded from the standard policy or when the standard policy will only cover a portion of the item's value.


Anything that your policy does not cover. An insurance company can contest your claim and refuse to pay if it involves loss of property that was not covered in your original contract.

Inflation protection

This annually adjusts your policy limits to compensate for inflation.

Insurance premium

The amount of money you pay (usually over the course of a year) for your insurance policy. You'll pay a higher or lower premium depending on how large your deductible is, what you are insuring and a variety of other factors.

Insurance claim

Your formal request for the insurance company to reimburse you for damages. An insurance agency can contest your claim and refuse to pay if your claim involves loss of property that was not covered in your insurance policy.

Want to learn more about homeowners insurance? Call our affiliate, American Home Insurance Agency, Inc., and speak with a licensed insurance specialist today. It's free!


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This week on Pinterest: Fall decorating ideas

by Kathryn Dean Posted in Homeowner resources /   October 22, 2012


Autumn decor

As impossible as it seems, Halloween is just around the corner. If you aren't already in full fall decorating mode, we have some inspiration for you on our Pinterest board!  

Things you'll find...

Pumpkin decorating ideas

Jack-o-Lantern wearing out his welcome? Explore a few alternatives to traditional pumpkin carving.

Fall décor

Bring the beauty of the outdoors into your home with some creative autumn accents.

Cold-weather comfort food 

It's time for savory soups, hot beverages and other tasty treats.

While you're there, check out our other fun pin boards. We've collected recipes to try, home decorating ideas, homebuyer tips, organizing ideas and more. Follow us to see fresh ideas weekly!

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