Home Insurance

Home insurance protects one of your greatest assets, your home. But home insurance also protects your other assets with its liability coverage portion. With coverage of your dwelling and personal belongings, your homeowner’s insurance provides you with the protection you need should something happen. Covered incidents typically include wind and hail damage, theft, vandalism, and even legal expenses if someone files a lawsuit against you.

Your home insurance policy includes 6 main coverage areas:

• Main dwelling
• Other structures
• Personal property
• Loss of use
• Liability
• Medical expenses

The most important coverage is for your main dwelling. If your house burned to the ground in a fire, this coverage should be high enough to pay for the cost of building a new home. The coverage for other structures includes any other buildings and structures on your property, such as a fence or shed. 

Home insurance also protects your personal property. Typical coverage reimburses you for the value of your items. If you select replacement cost coverage, insurance will cover the actual cost of replacing your item. Your home insurance also covers the loss of use of your home. If your home becomes uninhabitable because of a covered incident, home insurance will cover the cost of temporary living expenses. 

Your home insurance also offers liability protection. This covers legal expenses if you are responsible for damage to someone else’s property or an injury to someone else. Your liability coverage protects you from using other assets to pay for legal claims. Medical expenses require separate coverage. This will cover hospital bills and other related expenses if someone was injured on your property.

Typical home insurance policies don’t cover flooding and earthquakes. Anytime water enters your home from below the ground, only flood insurance will cover the damages. You need to purchase flood insurance or add a flood insurance rider to your home insurance for this type of coverage. Earthquakes are not typically covered under your home insurance policy unless you add a rider. Finally, a standard home insurance policy covers your personal property at current value instead of the actual replacement cost.

Home insurance is necessary to protect yourself from the cost of repairs or replacement after an adverse event causes damage to your property. If your home needs extensive repairs or has to be rebuilt because of a storm or fire, you don’t have to come up with the money out of pocket. Insurance even helps you pay for temporary housing expenses. Finally, the liability portion of your home insurance protects your financial assets in case of a lawsuit.

Home insurance doesn’t have to be expensive. You can reduce your premiums by increasing your deductible. We don’t recommend reducing your coverage value. Instead, we’ll help you find the most cost-effective home insurance policy from one of our reputable carriers. 

If you don’t have a mortgage on your home, there is no requirement to carry home insurance. However, without insurance, you risk having to repair or replace your home using your personal savings in case of a catastrophe, such as a fire, storm, or vandalism. All your assets will also be at risk if someone gets injured by you or on your property. 

Flooding causes more damage than any other catastrophe. It can even affect homes that are in low-risk flood zones. Fortunately, flood insurance premiums are affordable. We can help you determine if flood insurance makes sense for you. Our insurance agents will find affordable flood coverage for you to protect your home.

Your home insurance coverage protects your home and your other assets. If an unexpected catastrophe happens, you’ll be glad you have insurance to repair or replace damaged or lost items instead of having to cover extensive repairs out of pocket. Our experienced team of insurance agents will tailor the home insurance policy to fit your needs. We’ll find a competitively priced policy using our network of insurance carriers. Call us today for a quote.