Buying homeowners insurance can be a daunting task. There are so many different providers and policies that it is hard to know what the best choice for you will be. This article will give you three things you need to know before buying homeowners insurance to make an informed decision.
Why is home insurance necessary?
Homeowners insurance is necessary because it protects you from financial loss in the case of a disaster, like fire or theft. It also covers things that may not be covered by your mortgage company and comes with other benefits such as free identity theft protection for up to $100,000 at no extra cost to you! Plus, homeowner’s insurance can help pay off your mortgage balance if you become disabled. Now that’s peace of mind!
You should find out what type of home insurance coverage your lender requires before purchasing one on your own. If they need flood coverage or windstorm damage, make sure this will be included in the policy before signing anything. Your lender might offer discounts – so ask them about these too!
Are long do homeowners insurance policies last?
A homeowners insurance policy typically lasts for a year. If you want to keep it up after that, check with your insurance company about the procedure and cost of renewing it before it expires.
What is covered under house insurance?
It’s important to remember house insurance protects both the mortgage holder and those who live in the house against loss caused by fire, theft, natural disasters such as floods or windstorms, earthquakes, and hurricanes (among others).
What home insurance doesn’t cover:
There are several things homeowner’s insurance usually does not cover. These include damage caused by water from plumbing leaks or an appliance, loss due to theft if the home is vacant, and property owned outside the insured dwelling that’s damaged in the event of a natural disaster such as fire, windstorm, or flood. And there may be other exceptions depending on your homeowners’ policy – so always check with your agent before you assume it covers everything!
A valuable items policy can help protect against these types of claims too. If you have high net worth assets (such as jewelry), expensive art collections, antiques or rare documents like historical manuscripts then consider adding this type of coverage to your home policy.
If you would to like to discuss your options for home insurance, please call us at 561-732-9305 our quoting hours are Monday through Friday from 8:30 AM to 5:00 PM. In addition, you can request a quote online. Please remember, We Handle All the Work, While You Save!
Robert Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953. Oyer, Macoviak and Associates are vested members of the community who are committed to doing business face-to-face and being your insurance advocate in times of need.