Homeowners & Renters Insurance
The biggest investment most people will ever make is in their home. That’s why it makes sense to protect the sizable financial investment you’ve made in your own home with a comprehensive homeowners plan. Likewise if you are a renter you have accumulated valuable personal property, which is an asset that you need to protect.
Your home purchase or your personal property is an investment deserving the protection that only an experienced insurance professional can provide.
What is Homeowners Insurance?
Homeowners insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it.
Homeowners insurance is a package policy. This means that it covers both damage to your property and your legal liability or legal responsibility for any injuries and property damage you or members of your family cause to other people.
Damage caused by most disasters is covered but there are some exceptions. The most common exceptions are damage caused by floods, earthquakes or poor maintenance. You must buy separate policies for flood and earthquake coverage. Maintenance related problems are the homeowners’ responsibility.
Why do you need Homeowners Insurance?
- It is really 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 a fire or damaged by a natural disaster, you would need money to repair or replace it.
- If a guest in your home is injured, liability protection and medical coverage help pay expenses.
- If you are a victim of theft or 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.
What is Renters Insurance?
Renters insurance covers your possessions against losses. These possessions include clothing, furniture, electronics and much more. This is a coverage that is part of a typical home insurance policy but sold separately to individuals who rent and do not own their residence. It does not matter if you rent a home, mobile home, condo or apartment; this coverage is available to you. Some of the covered losses are fire, smoke, lightning, windstorm, vandalism and theft.
Renters insurance also covers your responsibility to other people injured at your home or elsewhere by you, a family member or your pet and will pay legal defense costs if you are taken to court.In addition to these coverages, your renters insurance will also pay the reasonable additional costs for temporary living arrangements if you can’t live in your home or apartment due to a fire, severe storm or other insured disaster.