Is there a home insurance policy that will cover everything?

How can I make sure my property is covered for any type of claim? I want to be sure that I have enough coverage if anything goes wrong with my home or personal property. I always hear of people not having enough coverage or loopholes that allows the insurance company to not have to pay a claim.

Answer
“It is crucial to make sure that your home and personal property have adequate coverage for most perils. However, is it is impossible to get a policy that coverages everything.
The closet type of policy is an HO5 open perils policy.
An open perils policy means everything is covered except for what is specifically excluded from the policy. Typical exclusions are:
  • flood
  • earth movement
  • war
The reason most people choose an HO3 policy over an HO5 policy is cost. Open peril coverage is very expensive and can financially be out of reach for many homeowners.
The best way to protect your home and personal property is to have a conversation with an agent that you trust. A good homeowners policy is one that gives you enough coverage to put your life back as it was before the loss and remain affordable month-to-month.
The best way to find the right policy and right price for you is to use an online comparison tool like Jerry. Jerry pulls quotes from the top 45+ insurance companies in seconds.”
avatar
Shannon Martin
Answered on Jul 13, 2021
Shannon is an expert in personal lines liability insurance with 13 + years of insurance industry experience. She also served as a special insurance liaison to AARP members for 6 of those years. She is a graduate of UL Lafayette and currently resides in NY with her family. Shannon is also an amateur juggler, ukulele player, and is a time travel paradox theory enthusiast.
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