Most standard homeowner’s insurance policies cover damages caused by fire, theft, and vandalism. And, for most home owners, a standard insurance policy (a combination of liability and casualty coverage) is sufficient.
However, many policy holders choose to purchase “optional” property coverage. A standard policy does not protect you against such items as earthquakes, floods, or war. Depending on your location, you may wish to consider expanding your coverage to include protection against such natural disasters.
It’s a good idea to review your homeowner’s insurance policy on an annual basis. If you’re unsure what type of homeowner’s insurance coverage you’re paying for – contact your insurance agent.