Homeowners insurance helps minimize repairs, living expenses if something happens to your homeor townhome and replacement costs.
You are covered if there is fire, wind, hail, lightning or theft. Just select what you pay out of pocket if you have a claim, usually between $500 and $1,000, and your homeowners insurance policy takes care of the rest.
Flood insurance protects your house and its contents from flood damages. It is a separate policy with its own deductible. Homeowners insurance policies typically do not cover flood damage.