If you own a home or leasing or renting one or if you are the landlord you need insurance as it is an expected expense. It is much better to have it (peace of mind) and use it then need to use and not have it.
Many people feel insurance is unnecessary but learn that is not true. They look to buy the cheapest price without considering coverages. They change carriers regularly yo save money. They are afraid to discuss their insurance concerns and coverages because they may not seem knowledgeable homeowners.
A Homeowners Insurance Policy (also known as an HO-3 policy) can cover damage caused by such perils as fire, windstorms, hail, lightning and vandalism. Typically, damage caused by floods and earthquakes is not covered by basic homeowner insurance policies. Optional homeowner insurance coverages and policies may be available to cover damage due to additional perils.
Within a Homeowners Insurance Policy, the following categories can help ensure your home and assets are adequately protected.
Dwelling coverage can pay to repair or rebuild your home if damaged by a covered cause of loss. You will likely want to buy enough dwelling coverage to cover the estimated cost to repair or rebuild.
Other structures coverage can pay for covered damages to detached structures like garages, sheds and fences on your property.
Personal property coverage can pay you for the personal items in your home that may be damaged or destroyed by a covered cause of loss, which could include your furniture, clothes, sporting goods and electronics. Special limits of liability may apply to certain items.
Loss of use coverage can pay your additional living expenses if you must move out of your home temporarily while it's being restored. This is subject to coverage terms and limits.
Liability coverage can help protect you in the event of a claim and can provide a defense in the event of a lawsuit if you or a member of your household is responsible for causing bodily injury or property damage to others.
This special coverage for personal property or contents can provide broader protection for your possessions in the event of a covered loss. It can cover your personal property in more situations than a homeowners policy.
Personal property replacement cost loss settlement coverage provides for settlement of covered personal property losses based on replacement cost at the time of loss, with no deduction for depreciation. The coverage is subject to applicable policy limits and deductibles and special limits apply to certain items such as jewelry, watches and furs.
Additional replacement cost coverage can make available an additional amount to help repair or rebuild your home if the dwelling coverage on your home is not enough to cover the cost to repair or rebuild after a covered loss.
Does Homeowners insurance cover theft? Valuable Items Plus coverage can provide higher limits and expanded protection for special classes of property such as jewelry, silverware and furs.
A personal articles floater is a separate valuable items policy that is available should you need coverage or higher amounts of coverage for specific valuable items.
Does Home insurance cover water damage? If water backs up from a sewer or drain within your home, or if water discharges or overflows from your sump pump, this coverage can help cover the loss up to a specified dollar amount. This does not include coverage for flood or surface water backup.
Identity fraud expense reimbursement coverage can provide up to $25,000 that can help cover expenses to restore your identity if it's used fraudulently.
This green home coverage provides additional protection that can help repair, replace or rebuild with green materials, after a covered loss occurs.
You need insurance to cover your home perils such as Fire, Lighting Storm, Wind, Theft, Vandalism, Personal Liability and more. If you have a mortgage on your home and you don't buy your own insurance the mortgage company will force place their insurance which could cost many times more.
We can help you find the right coverages with a top rated company at competitive prices.
