Because homeowners insurance covers far more than just your house.
Most policies (HO-3 or HO-5) are broken down into 6 distinct parts.
Let's look at an example policy for a $200,000 home.
This covers the actual physical structure of your home — the roof, walls, foundation — and attached structures like an attached garage or deck. If a tree falls on your roof, this is the coverage that rebuilds it.
This covers structures on your property that are not attached to your house. This includes detached garages, work sheds, guest houses, fences, and even a detached shop or barn.
This protects the stuff inside your house. If you took the roof off your house and turned it upside down, everything that falls out is personal property — furniture, electronics, clothing, appliances, kitchenware, and more.
If a fire or disaster makes your home temporarily uninhabitable, this coverage pays for your hotel bills, restaurant meals, and other extra living expenses while your home is being repaired. You shouldn't have to also suffer financially.
Protects you when you accidentally injure someone or damage their property. Examples include a dog bite, a dead tree falling from your yard onto a neighbor's roof, or your child accidentally breaking a neighbor's window. Covers legal fees and judgments.
A smaller, "no-fault" medical coverage. If a guest trips on your stairs and breaks an arm, this pays their immediate medical bills quickly — the goal is to handle it before it becomes a lawsuit. No determination of fault needed.
Did you know your landlord's policy does NOT cover your belongings? Renters insurance protects your personal property, provides liability protection, and covers additional living expenses if the apartment is damaged.
💡 Renters insurance is usually only $10–$20/month — most people don't realize how incredibly affordable it is.
Manufactured and mobile homes require specialized policies. Unlike stick-built homes, they are often insured based on Actual Cash Value (ACV) and face different vulnerabilities to wind and fire. Premiums are customized entirely based on age, construction, and foundation type.
Standard homeowners policies NEVER cover flooding. With Oregon's rain and rivers, flood risk is a reality for many. If groundwater breaches your doors, you need a completely separate specialized Flood Insurance policy. Don't wait for the storm.
An umbrella policy acts as an extra layer of liability protection once your primary auto or home policy maxes out.
Example: You are sued for $300,000 due to severe guest injury on your property. Your homeowners liability stops at $250,000. Without an umbrella policy, they can come after $50,000 of your personal assets (home equity, savings). An umbrella policy kicks in to cover that remaining balance.
Standard Coverage C (Personal Property) often caps the payout limits for highly targeted theft items like jewelry, fine art, collectibles, firearms, and high-end musical instruments.
A "Floater" schedules these specific high-value items separately so they are fully insured to their appraised value — no matter what happens to them, anywhere in the world.
Let's review your current policy and find the gaps before disaster strikes.
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