Your home is one of the biggest purchases you will make in your life.
It’s the place where you will come home every night and watch your family grow.
As your largest investments, you want to make sure you’re protected. That’s the main reason you will need homeowners insurance.
Whether you’re buying a new home or you’ve already paid off your mortgage, you may have wondered about the value of homeowners insurance . First off, what is homeowners insurance, Simply put, Homeowners insurance is a type of residential property insurance that protects homeowners against damages, liability, and theft.
Moreover, homeowners insurance is a “package policy” meaning that it doesn’t just cover your home it covers the people in it. For instance the home is protected from unforeseen damage, the owner is protected against legal responsibility for injuries incurred on the property, and the owner is also protected from damages caused by the family to others while on the property. If a tree falls on the house, your dog bites someone, or someone slips and falls, your homeowners policy will typically cover you up to an allowed amount (as defined by your contract).
A homeowners policy will generally cover unforeseen damage to the property for most accidents and disasters including fire, windstorms, hail, lightning, theft, and vandalism, as well as legal and medical liability for accidents or injuries caused to others on the property.
A homeowners policy can cover damages to the property, as well as the people inside, what else does it cover?
Most homeowners plans have stipulations in them which provides coverages for other things in your home such as silverware, jewelry, and even electronics. This is why it is important to check over your policy and know what is covered. You can rest easy knowing your $20,000 of silverware is covered… except you probably don’t have $20,000 of silverware… While you do actually have $20,000 in Jewelry. Except that is only covered to $10,000.
The best advice is to look over your coverages. If the prefilled coverage will suffice for your assets, you can keep it, but you need to make sure all of your assets are covered.
If you have any questions about homeowners insurance, or are ready to see if you can save money on your home insurance coverage you can use our get a quote feature at https://www.integritypartnersgroup.com/get-a-quote or give us a call at 229-430-9107