Because everyone’s circumstances are not the same, it is best to consult your independent agent at The Insurance Connection to help assess your needs and find the homeowners insurance policy that is right for you.
What is Homeowners insurance?
Homeowners insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it, your personal property. Homeowners insurance covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. Damage caused by most disasters is covered but there are exceptions. The most significant exclusions are damage caused by floods, earthquakes and poor maintenance.
Why do you need homeowners insurance?
It is really all about protecting yourself financially if something unexpected happens to your home or possessions. That’s important because chances are your home is likely one of your largest investments. You’ve worked hard for what you have. Protect it.
If your home was destroyed by fire or damaged by a natural disaster, you’d need money to repair or replace it.
If a guest in your home is injured, liability protection and medical coverage help pay expenses.
If you are a victim of theft and vandalism, it can reimburse you for your loss or pay for repairs.
If you are still paying for your home, your lender will require insurance.
It is important to know that homeowners insurance is meant to cover unexpected damage, not routine maintenance. Ask your agent to talk about what is covered and be sure to read your policy so you know exactly what’s included and what is not.
Things to consider and questions to ask your agent Here are few things to discuss with your agent that will influence your decisions.
How much will it cost to rebuild my house and replace my belongings if they are damaged or destroyed? (Ask your agent to talk you through your home’s features and the things you own so you can make an informed decision about coverage.)
What is replacement cost? How does it differ from the market value of my home?
What discounts are available? (Ask about multi-policy, paperless, alarm and security system, age of roof, nonsmoking and fire resistance discounts.)
What’s the process for filing and settling a claim? (Ask who to call and what happens after you file a claim.)