How to Choose Homeowners Insurance
With so many options out there for homeowners insurance, it's easy to feel like you're in over your head when trying to select coverage.
Instead of settling for homeowners insurance, it's best to seek help in order to find a policy that best fits your needs and budget. And that's where the HomeownersInsurance.com service comes in. Our licensed representatives ask you a range of questions and then help you find quality coverage that may meet your unique needs.
What Should Homeowners Insurance Cover?
Homeowners insurance should protect you from a range of perils from weather, to burglaries and lawsuits that result from on-site injuries.
Standard homeowners insurance can include:
- Dwelling coverage. This facet of your policy should cover the costs necessary to rebuild your home from the ground up, in case it's destroyed by a covered peril such as fire. It's not the same as the amount you paid for your home, which could include the plot of land. Rather, this coverage can help pay for building materials and labor expenses.
- Contents coverage. Typically set between 50% and 70% of the amount of dwelling coverage, contents protection can help repair or replace possessions that are stolen, damaged or destroyed, up to your policy's limitations.
- Liability protection. Liability coverage can help pay for medical expenses and legal fees that result from a guest sustaining an injury on your property. If you have 'attractive nuisances', such as a pool on your property, you may need more than the standard amount of liability coverage.
- Other structures coverage. If you have other structures such as a detached garage or shed on your property, this coverage would a wise addition to your policy in order to protect them from perils.
- Additional living expenses coverage. If your home is damaged by a covered peril to the point that it's uninhabitable, this coverage can help pay for expenses such as meals and hotels while it's being repaired.
When you decide on the amount of coverage that best suits your needs, you'll receive a premium - the amount you pay monthly, quarterly, biannually or annually to keep your insurance from lapsing - and a deductible - the amount you agree to pay toward a claim before your insurance kicks in. To decrease your premium payments, you could increase your deductible. Although, if you choose to increase your deductible, make sure it's not so high that it would cause you financial hardships if a disaster were to occur. Make sure you're comfortable with both your premium and deductible settings.
Have questions about coverage or discounts that may be available to you? Contact our licensed agents by dialing the number on the top of this page today! We'll work hard to find you quality coverage at a great price.