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Eli5: homeowner's insurance

First time homebuyers here, scheduled to close late January. I'm shopping for homeowner's insurance now, and it's made me realize I don't really know how homeowner's insurance works/ what I should be looking at in these quotes.

One agent offered me a policy through Eerie, which has "unlimited replacement" coverage. The price is comparable to what State Farm quoted me for 100% replacement.

Unlimited sounds good, but is it? What does that even mean?

Followup question: does homeowners insurance cover my personal property? I know my renters insurance did, but don't want to make assumptions

submitted by /u/monkeyroo
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/rt0idm/eli5_homeowners_insurance/
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