Homeowners insurance policies are designed for benefit of the owner to protect homes from a loss. They often cover the structure of the home, by determining a dollar amount for rebuilding in case of damage, and any detached buildings located of the premises, such as sheds or garages. Personal property is also covered under the basic structure of the home policy as well as loss of use; which pays for a family to live at another home while the home is being worked on. A homeowners policy can also be tailored to the needs of the owner by adding endorsements to the basic coverages
- Valuable items coverage. The policy owner can endorse expensive items, such as artwork, jewelry, and even computers on the policy for the valued amount.
- Water backup coverage. Will protect a house from water damage from water backing up into the house through a drain or an overflow from a sink or tub.
- Mold coverage. This may be an expensive endorsement, but it protects home in Texas from mold damage and clean up.
- Ordinance coverage. Older homes that are being rebuilt will sometimes have to be built according to current building codes. For example, in a city in which houses must be built a certain distance from the street, a older home may have to be moved back. Ordinance coverage pays for the home to be built to code in addition to the cost of rebuilding from a loss.