Homeowners insurance covers losses to your home and your personal property. Purchasing home insurance gives you the state of mind that losses caused by storms, fire, theft and other events will be covered. With Replacement Cost coverage, you can make sure you can rebuild what was damaged. Your homeowners policy also has personal liability protection that will protect you in case you become liable for bodily injury or property damage to others at your home.
The home insurance market has become very difficult in the past few years due to major losses from storms across the country. Many things effect the rates and the companies that may offer you coverage. One of the biggest changes in the past decade is INSURANCE SCORING. The companies look at your financial and insurance history and score you based on this information. No longer is the homeowner insurance rate just about the house, but the people in it. Carriers data back up the facts that individuals with less than good credit are a greater risk for claims than individuals with great credit. As agents, we don't like that either, but almost all the insurance companies use that information. So, take care of your credit, as it will impact your insurance premium.
Another area of importance is home maintenance and upkeep. Carriers are doing physical inspections to make sure your house is in good shape. Companies want to see that no trees are overhanging or touching the home. Rotten wood should be replaced. Roof updates are HUGE now with pricing. Many carriers will not offer you coverage if your roof is very old. Also, many companies are switching to an ACTUAL CASH VALUE coverage for claims on roofs. If you have an older roof, no longer do you get a "new roof" with REPLACEMENT COST COVERAGE, but you get the actual value of the age of the damaged roof. Companies also want your yard to be clear of debris. No old cars or trash in the yards. These present liability hazards and they will likely require the grounds be cleaned up to keep you covered.
A homeowners policy has many coverage parts to it. If you have a home based business, you need special coverage. If you have valuable articles, like jewelry, silverware, or guns, we need special coverage to make sure those are protected in case of a loss or mysterious disappearance.
Talk to one of our experts to tailor you a custom homeowner insurance plan. Click here for a free homeowner insurance quote