How Does Homeowners Insurance Work?
A typical homeowners insurance policy provides coverage to repair or rebuild your home if it’s damaged by fire, smoke, theft, vandalism, or bad weather such as lightning, wind, or hail. A standard homeowners policy also generally covers heating and cooling systems and their components, such as a furnace, a water heater, or an air conditioner, along with ductwork as long as the reason for the claim is an event covered by the policy. It doesn’t cover wear and tear, component failure, or anything else normally covered by a manufacturer’s or home warranty.