A standard homeowners insurance policy covers damage to your home and your property caused by various perils covered by the policy. Typical home insurance policies cover damage caused by:

• An aircraft, car or other vehicle 

• Explosions 

• Falling objects 

• Fire and smoke 

• Lightning strikes 

• Theft 

• Vandalism and malicious mischief 

• Some types of water damage  

• The weight of ice, snow and sleet 

• Windstorms and hail

In most states, standard homeowners insurance policies provide four main types of coverage. 

• Dwelling coverage helps you pay for repairs or rebuilding your home if it’s damaged or destroyed. 

• Personal property coverage helps you pay the costs of fixing or replacing your belongings if they’re damaged.  

• Liability coverage helps you protect your financial assets if you’re at fault for an injury or property damage. 

• Additional living expenses coverage helps you pay for rent, food and other increased costs if you have to live somewhere else while your home is being repaired. 

Contact us to learn more about other types of home insurance coverage that may be right for you.

The average premium for an HO-3 policy, the most common homeowners policy, is around $1,115 per year for a package (including dwelling, property and liability coverage) with an insurance range of $200,000-$299,000, according to a January 2021 report from the National Association of Insurance Commissioners. 

But there are many details that factor into the actual cost of a home insurance policy, including where you live, the type of home you live in and how much coverage you choose. Talk to a Farmers agent to learn more about your coverage options and available discounts.

Bundling auto and home insurance can also save you money. If you already have one policy with Farmers®, see how much you could save by bundling more.