Buying a home is a considerable investment. It’s essential to take every precaution to protect that investment to ensure you continue getting financial and personal returns. While most people consider having home insurance as a given, it’s not usually that easy. People often blindly purchase policies without understanding the type of coverage they need and the amount. Every state has different rules when it comes to home insurance but knowing those rules will help you stay out of hot water while obtaining the best protection available.
That’s a great question. Standard policies may include coverage for the following:
Dwelling - This will help rebuild or repair your home in the event of a loss of fire, theft, vandalism, windstorms, hail, or lightning. Other structures - This provision covers detached structures on the property that may be affected during the loss. Personal property - When your home experiences a loss, personal property may have been compromised. This ensures these items are replaced, but there are caps on the amount of coverage allowed. Loss of Use - If the home is damaged and temporarily unlivable, the policy may pay additional living expenses while displaced.Personal liability - Things happen. This may cover someone getting injured while on your property, or someone damaging someone else’s property. Being that California is known for its earthquakes, you may be required to have an earthquake, flooding policy, or both. These won’t be included in a standard policy and are considered add-ons.
Having the right guidance when searching for home insurance is vital. Working with a trusted insurance agency like Allegiant Insurance Services helps get the right quote and coverage that works for your budget. Our team makes it easy to find out what types of coverage you need, with recommendations to protect your investment. For more information, give us a call today!
