Homeowners insurance is not only required by most mortgage companies, but is essential in protecting the value of your home and its contents in the event of damage to your home. We know that homes are often the biggest investment a person will have in their life, so protecting that investment becomes of the utmost importance. We strive to inform you on the different parts of a home owner’s policy so that you can protect your investment to the greatest extent, while still keeping cost low.
As with auto insurance, understanding the policy terms and limits of homeowners insurance can be confusing and overwhelming. Below is a quick breakdown of common policy terms. Please contact us for more information.
Dwelling: Covers the repair or replacement of your damaged or destroyed home. This is the single most important part of homeowners insurance, and we have found that most people are underinsured in this area of their coverage.
Other Structures: Covers the repair or replacement of permanent, separate, unattached structures on your property that have been damaged or destroyed. This includes garages, workshops and permanent sheds usually up to 10% of your dwelling limits.
Personal Property: Covers your personal items and furnishings inside of your dwelling and other structures.
Loss Of Use Or Additional Living Expenses: Covers additional living expenses if your house in unlivable. This usually does not cover normal cost of living expenses such as a mortgage payment, but will pay for hotel costs.
Medical Payments: Covers the medical expenses of others, when they are accidentally injured on your property.
Liability: Covers your liability in the event that someone is injured or sustains property damage while on your property.