Homeowners Insurance

Because everyone's needs are not the same, it is best to consult your agent to help assess your needs and find the insurance policy that is right for you.

What is Homeowners insurance?
Homeowners insurance provides financial protection against disasters. A standard policy insures the home, contents, other structures, loss of use, personal liability and medical coverage. You will find several types of homeowners policies such as  HO2, HO3, HO5 and HO8.

Homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets.

Damage caused by most disasters is covered but there are exceptions. The most significant are damage caused by floods' earthquakes and poor maintenance. You must buy a separate policy for flood coverage. Earthquake coverage can normally be endorsed to your homeowners in most state. Maintenance-related problems are the homeowners' responsibility.

Why do you need homeowners insurance?
It is really all about protecting yourself financially if something unexpected happens to your home or possessions. That's important because chances are your home is likely one of your largest investments.

• If your home was destroyed by fire or damaged by a natural disaster, you'd need money to repair or replace it or even pay off the loan.
• If a guest in your home is injured, liability protection and medical coverage help pay expenses. (This could be a family member or any guest invited or not)
• If you are a victim of theft and vandalism, it can reimburse you for your loss or pay for repairs.
• If you are still paying for your home, your lender will require insurance.

It is important to know that homeowners insurance is meant to cover unexpected damage, not routine maintenance. Ask your agent to talk about what is covered and be sure to read your policy so you know exactly what's included and what is not because each individual company we represent will have little tweaks to a standard form homeowners policy.

Things to consider and questions to ask your agent
Here are few things to discuss with your agent that will influence your decisions.

• How much will it cost to rebuild my house and replace my belongings if they are damaged or destroyed? (Home replacement cost is rarely left to the Insured, most companies use some form of replacement cost guide, however it is your responsibility to insure that your agent has all the details to your home for proper coverage.)
• Does the insurance company have a good AM best rating of B+ or better? Is it known for paying claims fairly and promptly?
• What discounts are available? (Ask about multiple policy, security system and fire resistance discounts.)
• What's the process for filing and settling a claim? (When calling the agency direct, we do a warm transfer to your companies claims department.)