How Much Home Insurance Coverage Do I Need. However, if you have a mortgage on your home, your lender will require you to carry a minimum amount of homeowners coverage. If your home is damaged, or even completely destroyed, by something like a tornado, a hail storm, severe wind, a hurricane, a fire or violent lightning, then your homeowners insurance policy’s “dwelling coverage” will be able to reimburse for the loss if the occurrence is covered by the policy.
While this isn’t anyone’s idea of fun, some apps can make it easier. Coverage d, loss of use coverage, steps in when a claim forces you to live away from your home while repairs are underway. Coverage for medical payments ranges from $1,000 to $5,000 for the average policy.