Feel like you are paying too much for insurance on your home?
Eddie Insurance Agency can help you find the home insurance that will best protect you. Your policy will provide the most valuable combination of tailored coverage, quality service, and fair pricing.
Having home insurance helps to give peace of mind to homeowners, knowing that they are financially protected if something were to happen to their home. Homeowners can choose to purchase additional coverage for higher-value items, such as jewelry, antiques, or electronics. Home insurance can also provide coverage for building additions and renovations, and liability insurance for any injuries sustained on the property.
Home insurance is a crucial asset for homeowners. Not only can it enhance the property's value if the owner chooses to sell down the line, but it can also serve as a financial buffer against escalating property taxes, with some companies potentially providing tax exemptions. In essence, home insurance plays a significant role in maintaining a home that is secure, safe, and financially stable.
What Is Home Insurance?
Homeowner's policies differ by which losses are covered, which coverages you choose, and what type of residence you own. You choose which policy is best for you, whether it’s a comprehensive policy that covers losses such as fire, hail, smoke, falling objects, vandalism and theft of personal property, or whether it’s a policy that covers only specified losses.
How Much Does Home Insurance Cost?
It is important to remember that the cost of home insurance is determined by many factors. That's why we research and compare different policies to find the best option for your home. Important considerations include:
- What you select. Oftentimes homeowners insurance options are priced individually, so how much you’ll pay for your policy depends on what coverages you buy.
- How much you want to cover. Higher deductibles usually lower your premium price by shifting part of the loss payment to you. For example, if you had a $500 deductible, you would be responsible for paying the first $500 of the covered loss.
- Where you set your limits. You may choose to set higher limits than the recommended amount if appropriate to your situation and needs.
Worried you aren’t completely covered? Consider an umbrella insurance policy that extends your coverage.
Common Coverage Options
- Dwelling Coverage: This is the core of any home insurance policy. Dwelling coverage pays to repair or rebuild your home if it's damaged or destroyed by an insured event like a fire or hurricane.
- Personal Property Coverage: This coverage pays for the repair or replacement of your personal belongings, like furniture, clothing, and appliances, that are damaged, destroyed, or stolen.
- Liability Protection: This coverage protects you if someone gets injured on your property and decides to sue. It also covers damage caused to others' property.
- Guest Medical Protection: If a guest gets injured on your property, this coverage can help pay for their medical expenses, regardless of who is at fault.
- Additional Living Expenses (ALE) / Loss of Use: If your home gets severely damaged and you need to live elsewhere while it's being repaired or rebuilt, this coverage helps pay for your temporary living expenses.
- Other Structures Coverage: This covers structures on your property that aren't attached to your main home, such as a garage, shed, or fence.
- Scheduled Personal Property Endorsement: This provides additional coverage for high-value items, like jewelry or art, that may not be fully covered under standard personal property coverage.
- Flood Insurance: Standard home insurance policies typically don't cover flood damage. If you live in an area prone to flooding, you may need to purchase additional flood insurance.
Make an inventory of your home and personal belongings. If possible, make a list as well as take photos or video — using two inventory methods can help expedite the claim resolution process. Keep this list somewhere other than your home. Keep in mind that your policy doesn’t cover damages caused by poor or deferred maintenance on your part.
Every home is unique – talk to us today to find out how to get the best price and value on homeowners insurance for you.