The Four Parts of Every Homeowners Policy

A homeowners policy is really four coverages working together:

Dwelling coverage rebuilds or repairs the structure itself — the roof, walls, foundation, attached garage. The limit should reflect what it costs to rebuild your home today, not what you paid for it and not the Zillow number. Construction costs move; your limit should keep up.

Personal property coverage replaces what’s inside — furniture, clothes, electronics, kitchen, closets. It’s usually set as a percentage of your dwelling limit. High-value items like jewelry, guns, and instruments often have sub-limits and may need to be scheduled separately.

Liability coverage protects you if someone is injured on your property or you’re held responsible for damage to others — including legal defense costs.

Loss of use pays for somewhere to live (hotel, rental, meals above normal) if a covered loss makes your home unlivable while it’s repaired.

The Oklahoma Angle: Wind, Hail, and Your Roof

Oklahoma logged 66 tornadoes in a recent year — eighth in the nation — and hail does more quiet damage than tornadoes do dramatic damage. Wind and hail are covered perils on most Oklahoma homeowners policies, but two details decide how a storm claim actually feels:

  • The wind/hail deductible. Often a percentage of your dwelling limit rather than a flat amount. Know the dollar figure before you need it.
  • Roof settlement terms. Replacement cost pays to put on a new roof; actual cash value subtracts depreciation — a big difference on a 15-year-old roof.

What’s Never Covered

Two exclusions surprise people every year:

  • Flood. Not covered by any standard homeowners policy, period. Nationally, 22% of homeowners report being at flood risk, and it doesn’t take a mapped flood zone — just water going somewhere it shouldn’t. Flood insurance is a separate policy, and we can quote it.
  • Earthquake. Also separate — and worth a conversation in Oklahoma, where quakes are a known risk. An earthquake endorsement or standalone policy is typically inexpensive.

Normal wear and tear, gradual leaks, and maintenance issues aren’t covered either — insurance is for sudden and accidental, not deferred maintenance.

How to Know If You’re Actually Covered

Read your declarations page — or better, let us read it with you. We’ll check your dwelling limit against current rebuild costs, translate your deductibles into real dollars, confirm how your roof is treated, and flag the flood and earthquake questions for your specific address. Since 2018 we’ve been doing exactly this for families in Edmond and the surrounding Oklahoma communities, and the review costs you nothing.