Homeowners Insurance 101

Unlock savings and convenience.

We break down homeowner insurance rates and the factors that affect them.

Get your home covered, from roof to shed.

You've got questions, we've got answers.

Spoiler: Homeowners insurance is not required by law, but it's totally essential.

There's no single type of homeowners insurance. From HO3 to HO6 and beyond, we'll take a look at the options.

Mold? Windstorm damage? Flooding? Let's spell out exactly what you're protected against.

Own a condo? Here's what to know.

What's the difference, anyway?

Want to be fully covered? Consider these policy additions.

Equipment Breakdown Coverage (EBC) is an endorsement that you can purchase to complement and enhance your homeowners or renters insurance.

Does you lender require both? Let's unpack what that means

Here's how condo coverage can protect your pad.

There are three major trends that might be causing the Reconstruction Cost (RC) of your home to climb.

File this one under "icky but important"

Graduating from renting to owning? Here's what you can expect

What you don't know, might hurt you.

When it comes to homeowners insurance, how much coverage do you really need?

Because not all insurance policies are created equal.

A little something extra to protect those underground utility lines.

Your spouse is covered. But what about that roommate?

If your pet injures someone else, it may be covered by the liability clause in your homeowners insurance policy.

That dreaded drip, drip, drip—and how your policy can help.

A Reconstruction Cost Estimate (RCE) is a figure that approximates the cost of rebuilding your home in the case it gets completely destroyed.

Great news: Bike insurance is way less complicated than you’d expect! Bad news: Bike theft is super common.

For many things short of a werewolf mauling, you may be covered.

Recoverable depreciation is the amount of decreased value you can claim on your property in an insurance policy. 

An insurance adjuster is a person who investigates claims to determine how much (or if) your insurer should pay for a damage or loss.

Personal liability coverage financially protects you against accidental bodily injury or property damage to other people.

Blanket insurance is single property insurance that offers coverage for multiple properties at various locations under one policy.

An HO5 policy is a type of insurance policy that provides broader protection and higher coverage limits than your typical homeowners policy.

HO6 insurance, or condo insurance, is a type of homeowner insurance policy that protects condominium units specifically.

Let's take a close look at an HO6 policy.

Loss assessment coverage is added protection if damage to your condo exceeds your HOA insurance policy limits.

Proof of insurance is a document that shows your landlord, lender, or other individual that you actually have renters or home insurance.

Other structures coverage protects things in your yard not created by mother nature, like your driveway, fence, shed, or detached garage.

Insurable interest means having a financial stake in a person, a home, or a piece of personal property.

An uninsurable peril is an event that your insurance policy won’t cover if it results in damages or losses to your property.

Vandalism refers to intentional damage caused by someone else to your place or your stuff without your consent.

This type of insurance will protect things you own (like your home or your belongings) and also includes liability coverage.

Your personal property is covered at home and basically anywhere else on most homeowners policies.

Negligence is when when someone covered by your policy acts in a reckless or unreasonable way, which results in damages or losses.

Another word for an accident - in insurance, occurrence refers to bodily injury or property damage that happens when your policy is active.

Open perils is coverage for damages to your property - if something’s not explicitly excluded, it’s covered.

Personal property is insurance lingo for “your stuff” - it’s also known as Coverage C on renters and homeowners insurance policies.

Subrogation is when your insurer steps in to get money from a third party that caused damages to your property.

Think of replacement cost as the ‘Amazon’ price for how your insurance company will value stolen or damaged stuff.

Loss of use is a type of insurance coverage that helps with temporary living expenses if your place becomes uninhabitable due to a named peril.

Limit of liability refers to the max amount of money your insurer is on the hook for if something bad happens to you, your stuff, or your property.

An additional insured is a person you add to your policy because they live with you.

Bodily injury (and bodily injury claims) is a term describing physical harm to others caused by you, or anyone else covered on your insurance policy, including your pets!

Date of issue in insurance refers to the actual date on which your policy was drawn up (but not when your insurance becomes active).

A declarations page is a summary of your insurance policy that includes important details like coverage amounts, deductible, and who’s covered.

An effective date refers to the exact date and time when your insurance policy will officially become active.

In insurance, an endorsement can be an exclusion, addition, or any other type of change to the original terms of your insurance policy.

Fire insurance provides extra protection, on top of what your insurance policy would normally cover, in the event of losses or damages to your property.

Think of actual cash value as the eBay price of used items.

Jump around, jump around—but will your quote be turned down?

It’s your insurance policy, simplified.

Scheduled property coverage (or Extra Coverage, as we call it at Lemonade) requires some simple documentation. We break it down for you here.

Because you deserve to be treated right.

We clear up some of the most common misunderstandings around homeowners insurance, so that you can sail into the future with confidence.

Your complete guide to liability coverage: How it works, what it covers, and how to file a claim with Lemonade.

If a fire occurs in your home, here's what to do—and how to file a claim.

Your insurance score is a bit different than your credit score. We'll help you understand the difference, and why it matters.

Here’s how to best protect your fence.

A home warranty policy offers an additional layer of protection from the cost of potential home repairs and appliance breakdowns.

Dwelling coverage is the amount noted in your homeowners insurance policy that protects you from damages to your place (your home and everything attached to it, such as a garage, chimney, etc.)

A moral hazard is a situation in which a person with insurance takes greater risks than they normally would without insurance, because they know their insurer will foot the bill if something bad happens.

Named insured are everyone covered under an insurance policy, including the policyholder and the people they’re related to living at their place.

Named perils are specific damages or losses listed in your policy if any of these ruin your property, you’ll be covered.

An HO3 policy is the most common homeowners insurance policy, protecting you, your family, and your property against various types of damages.

The lowdown on insurance for electronic devices.

Part of your homeowners insurance policy, hazard insurance protects the structure of your home against “hazards” like fire, hail, theft, etc.

Don't let these critters eat away at your biggest investment.

Here's when your policy kicks in—and when it won't

A closer look at what’s driving rate increases

Here's what you should know about home-sharing and your policy

Escrow accounts, lump sums, and closing costs…oh my!

Spoiler alert: It does, in many cases!

It often will, but there's a lot you can do to avoid trouble in the first place.

We call it Extra Coverage. Here's why it matters.