Homeowner insurance coverage 101

Your homeowner's policy typically covers loss due to fire or lightening, wind or hail, freezing of plumbing and theft.

A standard homeowner's policy offers these options

  • Coverage A- Dwelling
  • Coverage B- Other Structures on Your Property
  • Coverage C- Personal Property/Contents
  • Coverage D- Loss of Use
  • Coverage E- Personal Liability Protection
  • Coverage F- Medical Payments

Dwelling coverage protects against damage and possible loss of your home from certain insured perils such as wind, hail, lightening or fire. Separate policies are needed for flood and earthquake insurance, and depending on which state the home is located in, an excess wind (hurricane) policy may be needed. This portion of your policy pays to replace the structural components of your home.

Other structures protected by a standard home insurance policy include detached garages and other detached buildings on your property. Typically, these structures are covered at 10% of your dwelling coverage. Your Insurance Advisor can give you options for purchasing additional protection if you feel it's necessary.

Personal Property coverage is included in a standard home insurance policy and protects personal items and household contents in the event of certain insured perils.

Loss of Use coverage provides for your living expenses if you cannot live in your home. This coverage typically will pay hotel and restaurant bills and other living expenses you incur while your home is being repaired.

Personal Liability Protection provides coverage for bodily injury or property damage in the event that a lawsuit is presented against you or covered family members and you are found legally liable. Defense costs are typically included in this limit as well. This is the portion of your policy that also protects you if your pet causes harm or damage to others.

Medical Payments coverage helps cover medical expenses if someone is hurt on your property. It is often referred to as a "good will" coverage because it is paid regardless of fault.

Optional coverage

  • ID Theft
    Provides coverage for members of the household should their identity be compromised and a loss sustained.
  • Water back-up of sewers and drains
    A basic home policy will not cover a loss resulting from water back-up in the home but can be added as an option.
  • If you work from home
    If you work from an office or small business in your home, you may need special coverage. Check with your Insurance Advisor to help determine the right coverage.

Homeowners policies do not cover

  • Bodily injury or property damage that is expected or intended by the insure
  • Business pursuits
  • Ownership, operation, use or maintenance of aircraft, motor vehicles and certain watercraft

We can help

If you have questions about homeowners insurance, visit one of our branches or call us at 1-800-443-6316.


Insurance products are offered through Think Insurance (MN license # IA-538), not Think Mutual Bank. Insurance products are not FDIC insured, are not insured by any federal agency, and are not a deposit or guarantee of Think Mutual Bank.
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Insurance products are offered through Think Insurance (MN license # IA-538), not Think Mutual Bank. Insurance products are not FDIC insured, are not insured by any federal agency, and are not a deposit or guarantee of Think Mutual Bank. This is not a policy. For a complete statement of coverages and exclusions, please see the policy contract.

The Investment Professionals of Think Financial Planning are Registered Representatives and Investment Adviser Representatives with/and offer Securities and Advisory Services through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered by CES Insurance Agency. Investments are not FDIC insured, not bank guaranteed, not insured by any federal agency and may lose value. Check the background of this firm on FINRA's BrokerCheck. Think Financial Planning is headquartered at 5200 Members Pkwy NW, Rochester, MN 55901.

This information is provided for new customers who live or work in Minnesota, and for existing customers residing in the states of AR, AZ, CA, CO, FL, GA, IL, IN, IA, KS, KY, MA, MD, MI, MN, MO, MT, NE, NM, NV, NY, ND, NC, OH, PA, SD, TN, TX, UT, VA, WA, WI, WY. No offers may be made or accepted from any resident outside of these states due to various state regulations and registration requirements regarding investment products and services.