page loader

Homeowners Insurance

Homeowner’s insurance policies are crucial if you want to protect his or her financial situation and investment. This form of insurance protects the owner of a residential dwelling from loss of property and liability for accidents that happen on the premises.

Those who own a resident, be it primary or second home, need to secure protection from loss in case of fire or theft. Policies pricing varies based on the value of home and property held within it. These can be custom-built depending on the estimated replacement cost of the home and property.

Because the insurance company only pays the exact amount listed on the policy, you must keep an up-to-date listing of the contents of the home. For instance, homes worth $200K may have jewelry and other valuables onsite worth more than $100K. This must be identified by the insurance carrier to ensure that the policy covers the high value of personal property.

It’s also key to know what is covered by the acquired policy. Typically, a policy covers liability if a person is injured onsite, but does not automatically cover damage from flooding or termites. Additional insurance should be purchased in case of these types of situations.

If you own a home free and clear, without lien or mortgage, the insurance policy is optional. A mortgage company that has first rights to the title of the property will need home insurance to protect its security.

Nevertheless, securing homeowner’s insurance is smart, especially if you want to protect one of your largest financial investments.






Share: