Your home is a significant investment. You took the time to find the perfect location and the best builder, and poured your heart into the little details that make a house a home. Home ownership is not just a financial commitment, but an emotional one too. That is why finding the right homeowners insurance is so important.
If something unfortunate were to happen, from a downed tree limb on your roof to an accidental fire, you want your home to have an insurance policy broad enough to help repair, replace, or rebuild it as it was before. It is important to shop around for insurance and know exactly what a policy does, and does not, cover. Homeowners can start by working with a local and licensed agent they trust or by filling out an online quote from many well-known providers.
Typical home insurance coverage can offer protection for the physical structure of your home and other structures on the property, the personal belongings inside your house, and personal liability coverage for those injured inside your home. Insurance can help pay to repair or rebuild your home if the damage is the result of a covered loss, protect your assets and cover costs if you or a family member are responsible for injuring another person or causing damage to another person’s property, and covers the loss of personal items that are damaged or destroyed.
Many factors influence the cost of homeowners insurance including the home’s age, location, your personal claim history, risks like swimming pools or trampolines, your credit score, and what your preferred deductible is. Newer homes located in areas with lower crime rates typically pay lower premiums as they are less susceptible to break-ins and costly repairs.
There are things that a basic homeowners policy will most likely not cover, and if you seek additional protection you will need to speak to your insurance agent. Some instances where additional coverage may be needed is for weather-related flooding, landslides, wind damage, maintenance neglect, burst pipes, sewer issues, mold, and termites. While many of these issues are reserved for aging homes, it is always a good idea to know what your policy covers.
There is no place like home and you’ve worked hard to find your dream home, which is why protecting it should be a priority.