Home Owner's Insurance

What does homeowner's insurance cover? 

In most policies there are a few common types of coverage. You are protected in cases of fire, theft, wind and hail damage. Flood insurance is typically covered under a separate policy. Each type of coverage will have a maximum amount for your plan. For specific coverages, please speak with an insurance agent or refer to your policy documentation. 

• Protection for your your house and permanent structures on your property. 
• Personal property coverage. There is typically limited in dollar amount and does not include more expensive items like jewelry, collections etc. If you need more coverage for valuables, there are add-on policies for this. 
• Liability protection for accidents that happen at your property. Additional expenses that arise from a loss, such as temporary housing that you may need during a repair period.  

Tips for Getting the Best Price Shop Around -

• Get more than one quote for insurance. 
• Compare quotes and coverages from several different providers.  
• Review your Coverage Amounts - Your insurance agent can help make sure you have adequate coverage amounts in each category. As an example what you paid for your house is not necessarily the amount that you insure it for. In the case of a complete disaster, you would still own the land that your home sits on. Therefore your coverage amount to rebuild would be less than the total property price. Although if you have custom features, or more recent renovations you may want to consider a cost that covers this. 
• Consider Your Deductible Amount - Raising your deductible amount can reduce the amount you pay each month/year for coverage. 
• Compare the difference in cost of a policy with a $500 deductible versus one with a $1000 deductible. 
• Buy Home and Auto from the Same Company - Most companies offer a discount if you buy both home and auto coverage through them. 
• Check for Other Discounts - Depending on the company there may be discounts available for monitored security systems, certain safety improvements, good credit, or retired individuals living at home.