Buying a home is one of the most exciting and rewarding decisions you can make. But, it's important to protect your investment with home insurance. A homeowners policy should cover you in case of fire or other disasters that might damage your home. Your policy will also cover liability for injuries or deaths at your home, as well as theft and vandalism. Finding the right home insurance company is an important part of making sure your home is protected!

Why is Home Insurance Necessary?

Your home is likely your most valuable asset. It's the place where you lay your head at night, and you want to be sure it's secure against any potential threat. The right insurance coverage can protect you from financial loss in case of a disaster or theft.

Homeowner's insurance is an essential part of protecting your home in the instance of property damage. In the event of a fire, weather event, or theft, your policy will help offset some of the costs of damages so that you can focus on getting back on your feet again instead of worrying about how to pay for it all.

Types of Policies That Insurance Companies Offer

There are many different types of homeowner's insurance policies to choose from. The first step is knowing what types of coverage options are available for your dwelling. Then you can decide what you need from your policy and find the right insurance company to provide it.

Homeowners Policies

A homeowners policy provides building (dwelling) and personal property coverage for a person who owns an owner-occupied 1-4 family home and also provide personal liability coverage . A homeowner needs to have the right dwelling coverage because their home has a value that should be protected in the case that you need to file a claim.

Renters Policies

When you rent a house or apartment, a landlord typically requires that you have renters insurance. This type of policy will help protect your property and belongings should the worst happen to your rental home or apartment and also provide personal liability coverage. 

Other Types of Property Insurance

Other types of policies cover things like condos or vacation dwellings. Some natural disasters can be covered with policies like flood insurance. There are also special policies for landlords, who are typically also required to carry separate policies.

A homeowners policy is for people who own their own home. This may be either a house or a condominium: Essentially, if you buy and are the registered owner of the home on the Deed you will need homeowners insurance. This type of policy will cover both the outside of the home and all the contents of your home. It will cover the majority of natural disasters (certain disasters like earthquakes may be excluded but you may add extra coverage for that specific purpose) and will allow you to replace or rebuild damaged property. If your home is broken into by a thief and items are stolen your insurance will help replace stolen items and pay for any damage in terms of vandalism that the thief did.

With a renter's policy, the coverage includes the inner contents of the home, apartment, or room that you are renting. This is coverage for the break-ins, the natural disasters, fires, and other circumstances that are beyond your control. Even though your landlord will have a homeowners policy on the place you are living, it does not cover your own personal items as a renter, which is why renters insurance is essential.

You may be very surprised to see the range of prices you'll get in home insurance quotes. You can sometimes save hundreds of dollars, or even more, simply by choosing one company over another. However, it is important that you get quotes only from reliable top carriers. Your local independent agent is the best resource for this since they can accumulate multiple quotes from the top carriers for you online. Your independent agency will give you the power to compare all the best policy options conveniently at home!

Enter your zip code and get a quote to find out what coverage you need!

What is Covered Under a Typical Homeowners Insurance Policy?

The answer varies depending on the company you choose, but there are some common items that are usually included in a policy. These include living expenses if your house becomes uninhabitable for a covered peril or claim, such as replacement of personal belongings that were destroyed such as clothing, furniture or electronics. It also includes liability coverage for financial protection if someone trips or gets hurt in your home.

Dwellings

The main reason for homeowners insurance is dwelling protection. This covers the replacement cost for the actual structure in which you live—the foundation, walls, and roof of your home. It may also cover other structures that are attached to your home, such as a garage or a deck.

Other Structures

Structures that are not attached to your home would fall under this category. Detached garages or sheds would be examples of other structures that you want to ensure are covered under your homeowner's insurance policy.

Personal Property

Personal property coverage protects the cost of everything inside your home, such as your appliances, electronics, furniture, and clothing. This type of protection is important because it can help replace the value of the items inside your home if they were damaged due to a fire or other catastrophe.

Liability Protection

Most policies will also include personal liability protection, which would protect a person who does not live in your household if they were injured at your home. Liability coverage can help protect if you against things like someone falling off your roof while making repairs or getting hurt in your swimming pool.

Find the Right Insurance Company & Policy For You

Not all homeowners insurance policies are equal, so be sure to do your research in order to find the right policy and protect your home. You may even be able to bundle your auto insurance policy with your home insurance policy and get some insurance discounts!

Connect with an agent today to make sure you don't over pay for auto, home or other insurance policies. We'll help you find all available discounts in order to save money while making sure you are still protected!

Give us a call at 608-663-9800 or click here to compare rates and get a quote today!