What is homeowners insurance, and who should buy it?
Homeowners is one of the most popular forms of personal insurance on the market. The typical homeowners policy has two main sections: Section I covers your property, and Section II provides personal liability coverage (to cover you in case of lawsuits arising from things that happen on your property). Anyone who owns or leases property should have this type of insurance.

Where and when is my personal property covered?
Coverage C, the “named perils” coverage, applies to all your personal property (except property specifically excluded) anywhere in the world. For example, suppose that while traveling, you purchased a dresser and you wanted to ship it home. Your homeowners policy would possibly provide coverage while the dresser is in transit - even though the dresser has never been in your home before.

What should I consider when buying homeowners insurance?
First and foremost, buy the amount and type of insurance you need. Remember: if your policy limit is less than 80% of the replacement cost of your home, you will face a "coinsurance penalty," which means you'll have out-of-pocket expenses to cover costs beyond your policy's deductible. Also, figure out how much personal property insurance and personal liability coverage you need. Personal property, like a home, should be insured for its replacement value. Personal liability is a bit more subjective, but limits should not be less than those on other liability insurance such as auto. Seek advice from a financial or legal professional if in doubt. Finally, think about the extras you could add to your policy.

What can I do to lower the cost of my homeowners insurance?
Contact General Insurance Services! Another way to cut costs is to look for discounts that apply to you. For example, many insurers will offer a discount when you buy both your automobile and homeowners insurance from them. Some insurers offer discounts if you have deadbolt exterior locks on all your doors, or if your home has a security system. Ask your agent or company about discounts.