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by Indiana Farm Bureau Insurance

What does my homeowners insurance cover and not cover?

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Homeowners insurance can be confusing. At Indiana Farm Bureau Insurance, we want to make it easier to understand and are here to help you customize policies to fit you and your unique insurance needs. Let’s look at what is and is not covered in an Indiana Farm Bureau Insurance homeowners policy and what your next steps are for getting a quote and being on your way.


What does Indiana Farm Bureau Insurance’s homeowners insurance cover?

Most homeowners insurance policies have three key areas of coverage: the house and any other buildings on your property, your stuff (belongings) and liability coverage for you in case you are found responsible for an injury or an accident.  You can cover condos, houses, mobile homes, and other structures or outbuildings with a homeowners insurance policy.

If you have additional questions on what your insurance policy covers or what a policy can cover, talk to an agent for a free review.

What is not covered by an Indiana Farm Bureau Insurance’s homeowners insurance policy?

Having the correct coverage in place before a loss is very important. That is why Indiana Farm Bureau Insurance urges Hoosiers to seek to understand what our homeowners insurance policies do and do not cover.

Does my homeowners insurance policy cover earthquake and flood damages?

A homeowners insurance policy from Indiana Farm Bureau Insurance does not automatically cover Earthquake or Mine Subsidence . Coverage for these perils must be purchased separately for an additional premium as endorsements to your policy.

Flood is also not a covered peril under the homeowners policy. Flood insurance must be purchased from the National Flood Insurance Program.

Does my homeowners insurance policy cover personal property?

While homeowners insurances can provide coverage for most of your household personal coverage, the amount of coverage for valuables such as jewelry, watches, furs, precious and semi-precious stones and firearms is limited under the basic homeowners policy. A Scheduled Personal Property endorsement can be purchased to increase the amount of insurance and the perils covered for these specifically scheduled items.

Our homeowners policy does not cover motor vehicles or other motorized land conveyances subject to motor vehicle registration. The Indiana Farm Bureau Insurance homeowners contracts do not automatically cover losses associated with home-sharing activities. However, for an extra premium, an endorsement can be added to your policy to cover liability and property damage exposures that come along with participating in a home-sharing network platform such as AIRBNB, VRBO and HomeAway, to name a few.

Does my homeowners insurance policy cover physical injuries?

Homeowners policies do not cover bodily injury or property damage associated with  business activities. In most cases, a businessowners policy should be purchased if an insured owns and/or operates a business.

A homeowners policy does not cover liability or property damage exposures associated with most watercraft. Endorsements can be purchased for an extra premium to cover these exposures.

This policy does not include coverage for personal injury such as slander, libel, defamation of character, invasion of privacy, wrongful eviction or entry. For an additional premium, an endorsement can be purchased to cover these exposures.  

Homeowners policies do have a limited amount of coverage ($500) for Damage to Property of Others. You can purchase an additional endorsement which will increase that limit to $10,000.  

Are there any other exclusions I should know about?

There are other exclusions in a basic homeowners policy where coverage can be added back by purchase of an endorsement. It is important to understand what your homeowners policy does and does not cover in case you do need to purchase one of these additional endorsements. Talk to an agent for more information about personalizing your homeowners policy.

What are the different types of homeowners insurance?

For homeowners, three types of policies are offered by Indiana Farm Bureau Insurance. The broadest coverage is the HO-3 policy, which provides open perils coverage on Coverages A and B and replacement cost of Coverages A, B, and C. It also offers Replacement Cost coverage and Named Perils on personal property (Coverage C). Open perils for Coverage C can also be purchased. 

Next, our HO-2 policy offers Named Perils coverage on Coverages A and B. It offers Replacement Cost of Coverages A and B, like the HO-3 policy, but provides Named Perils and Actual Cash Value (ACV) coverage for personal property. 

Finally, an HO-8 policy is available to provide only very basic coverage, including Named Perils on Coverages A, B, and C, and Functional Replacement Cost of Coverages A and B, with ACV on Coverage C.

Renters are often covered using a HO-4 policy, it is not designed to cover the dwelling or other structures, as those are most often covered by the property owner. A renters policy does provide coverage for personal property owned by the policyholder. Importantly, it also provides Coverages E and F to cover Liability and Medical Payments.

Finally, the HO-6 policy is commonly used to cover owners of condominiums. Because some portions of the dwelling are owned in common by a condominium and some portions are owned by the unit-owner, the policies are structured a bit differently. All coverages are provided (though other structures are covered under the Coverage A limit for Dwelling). Replacement Cost is provided on Coverages A, B, and C.   

Want more information on our various policies? Check out if homeowners insurance covers working from home or talk to an agent today. 


What should I do next to protect myself?

Talk with an agent to make certain you understand what you need, get an idea of the value of your property and know what coverages are important for you. Don’t have the right coverage? Request a quote to see what options, you have for protecting one of your most valuable assets.


Get a free quote today


At Indiana Farm Bureau Insurance, our top-notch local agents want you to be confident with your policies and have peace of mind that you are covered if the unexpected happens. 

*The information in this article was compiled from a variety of sources and is intended to provide helpful tips only.