Homeowners insurance combines coverages for your dwelling, outbuildings, personal property and loss of use as well as provides personal liability protection for you and your family. Your home is likely the greatest investment you will make. Protecting your investment and your family is key, and Louisiana Farm Bureau insurance is here to do just that.
Why choose Louisiana Farm Bureau insurance? We have been serving policyholders just like you for over 70 years. Real Service. Real People.®
What Homeowners Insurance Covers
The Homeowners policy is a very broad package of insurance. Because of this “packaging concept” we are able to provide this policy at a lower premium than such coverage would cost if purchased separately.
Generally speaking, homeowners insurance protects your home, apartment or condominium from damage to the structure and to the contents. The policy also covers damage or theft of your personal property at home or away from home. Additional living expenses may be provided if you have to leave your home after it has been damaged by an insured peril. Coverage is also provided for personal liability claims against you and your family.
Types of Coverages
Protection for your Dwelling, Contents and Other Structures
Your Homeowners insurance policy covers losses involving property that you own. If you own a house, this usually includes the dwelling, other structures such as tool sheds and detached garages and their contents, as well as your personal property. If you rent a home or apartment, coverage includes your personal property and any interior items which you own.
If you own a condominium unit, your coverage will usually pay for damage to your personal property , as well as wall, floor, and ceiling coverings, and any accessories not originally installed in the unit. Condominium associations are not required to, and generally do not, cover these things. You need to know what insurance responsibilities are placed on you by your condominium association.
Typically, a policy pays up to the amount shown in the policy declarations for damages to the dwelling caused by a covered loss . Certain special limits may apply to your personal property. You should review these in your policy along with the kinds of property which are not covered.
Another feature of your Homeowners insurance is Personal Liability coverage. This coverage protects you if someone makes a claim or files a lawsuit alleging bodily injury or property damage – occurring on or away from your property – as a result of your negligence or the negligence of a dependent or injuries caused by your pet. The base limit of liability for this coverage is $25,000. You may be able to increase this limit up to $300,000 to fit your specific needs. If higher liability limits are desired, ask your local Farm Bureau insurance agent about Personal Umbrella insurance.
Your Homeowners policy provides Medical Payments coverage for someone injured on your property who does not live there. These payments are paid regardless of who is at fault. The minimum limit of liability for this coverage is $1,000 for homes with Personal Liability coverage limits of $25,000 or more. You may be able to increase this limit to fit your specific needs.
Loss of Use
Another feature of your Homeowners insurance is loss-of-use benefits. If you are unable to live in your home after damage by a covered loss, such as a fire, we may pay a certain amount for additional living expenses. This could include limited motel, restaurant and warehouse storage expenses while your home is being repaired.The limit of coverage for loss of use varies by homeowner coverage form.
- Debris Removal: Pays for the reasonable expense to remove debris of covered property if damaged by a covered cause of loss.
- Reasonable Repairs: Reasonable costs incurred by you for necessary repairs will be paid to protect covered property from further damage.
- Trees, Shrubs and Other Plants: Provides coverage for trees, shrubs and other plants on the residence premises if damaged by a specified covered cause of loss. The limit is $250 for any one item. (This coverage is not provided by Renters insurance)
- Fire Department Service Charge: Up to $250 will be paid for fire department service calls to protect property from a covered loss if you are under contract or agreement with a fire department.
- Property Removed: Covered property is insured for direct loss from any cause while it is being moved from a premises endangered by a covered cause of loss. It is also covered for up to 30 days at the site to which it has been moved.
- Loss Assessment: Up to $1,000 will be paid for your share of any loss assessment charged against you as the owner or tenant of the residence premises by a corporation or association of property owners for a direct loss to property owned by all members of the corporation or association, if such damage results from certain covered causes of loss.
- Arson Award: Up to $5,000 will be paid, at our option, for information leading to an arson conviction or successful arson defense in connection with a fire loss covered by this policy.
- Collapse: Provides coverage for damage to buildings and personal property caused by collapse.
For more information about insuring your home, contact your local Louisiana Farm Bureau insurance agent.