![]() The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content on Forbes Advisor. Second, we also include links to advertisers’ offers in some of our articles these “affiliate links” may generate income for our site when you click on them. This site does not include all companies or products available within the market. ![]() The compensation we receive for those placements affects how and where advertisers’ offers appear on the site. First, we provide paid placements to advertisers to present their offers. This compensation comes from two main sources. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. The Forbes Advisor editorial team is independent and objective. Related: Cheapest homeowners insurance companies The larger your deductible, the lower your homeowners insurance premiums. Your deductible is the amount your insurance company deducts from a claim check. Your payout after a loss will probably be larger, but your home insurance premiums will be higher. Replacement cost coverage reimburses you for the current cost of replacing your possessions, regardless of how old they are.This can make the amount you pay in insurance premiums less but will result in a smaller payout if you file a claim. Actual cash value coverage pays for damage to your personal property at its depreciated value.These choices will impact how much you pay for homeowners insurance from a Geico partner.Īs part of your homeowners insurance policy, you can choose between actual cash value or replacement cost for your belongings. If you’re buying home insurance through Geico Insurance Agency, you will have the option to select your coverage levels and the amount of your deductible. You are covered for costs above and beyond what you normally would spend, such as the added expense of hotel rooms, eating out, laundry service and pet boarding.īecause a Geico home insurance policy can come from one of many partners, it’s impossible to estimate an average cost. Additional living expenses coverageĪdditional living expenses coverage kicks in if your home is temporarily uninhabitable due to a problem covered by your policy. When deciding how much liability insurance you need, consider how much you could lose in a lawsuit. ![]() It also pays for your legal defense if you are sued after an accident.įor example, if a guest falls down your stairs or your dog bites someone, liability insurance can pay for their medical care and your legal bills in a lawsuit. Liability insurance pays for injuries and property damage you accidentally cause to others. If you want more coverage, you can “schedule” valuable items. For example, your policy might limit the theft of jewelry and watches to $1,500. Personal property coverage pays to repair or replace personal belongings, like furniture and clothing, that have been stolen or damaged by a problem listed in your policy.Ĭertain categories of items, such as jewelry, furs and cash, will have a limit on how much your insurance company will pay to replace them if they are stolen. ![]() This coverage pays for damage to structures on your property that are not attached to your house, like a fence or shed. Your insurance agent can help provide a rebuilding cost estimate. It also provides coverage for structures attached to your house, such as a garage, deck or porch. Related: What does homeowners insurance cover? Dwelling coverageĭwelling coverage pays to repair or replace your house if it is damaged or destroyed by a problem listed in your policy, such as a fire or tornado. If you purchase homeowners insurance through the Geico Insurance Agency, regardless of which company writes your policy, you will get standard homeowners insurance coverage such as:
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