Homeowners Insurance Information
Why Consult Your Agent? Everyone’s needs are unique, so it’s best to consult your agent to assess your needs and find the right insurance policy for you.
What is Homeowners Insurance? Homeowners insurance provides financial protection against disasters. A standard policy insures your home and the items you keep in it. It’s a package policy, meaning it covers both property damage and liability for any injuries or property damage you or your family members cause to others, including damage caused by pets.
Most disasters are covered, but there are exceptions, such as floods, earthquakes, and poor maintenance. Separate policies are needed for flood and earthquake coverage. Maintenance-related issues are the homeowner’s responsibility.
Why Do You Need Homeowners Insurance? Homeowners insurance protects you financially if something unexpected happens to your home or possessions, which is crucial as your home is likely one of your largest investments.
If your home is destroyed by fire or damaged by a natural disaster, you’ll need money to repair or replace it.
If a guest is injured in your home, liability protection and medical coverage help pay expenses.
If you’re a victim of theft or vandalism, insurance can reimburse your loss or pay for repairs.
If you’re still paying for your home, your lender will require insurance.
Homeowners insurance is for unexpected damage, not routine maintenance. Discuss coverage details with your agent and read your policy to know what’s included and what’s not.
Questions to Ask Your Agent When discussing with your agent, consider these points:
Rebuild and Replace Costs: How much will it cost to rebuild my house and replace my belongings if they’re damaged or destroyed? (Discuss your home’s features and possessions with your agent for an informed decision.)
Customer Service Reputation: Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?
Available Discounts: What discounts are available? (Ask about multiple policy, security system, and fire resistance discounts.)
Claims Process: What’s the process for filing and settling a claim? (Find out who to call and what happens after you file a claim.)