More on Homeowner’s Insurance

Today, I’d like to turn your attention to some of the other coverage offered on your homeowner’s insurance policy.

Homeowner’s policies are usually a package deal. Like Flo says on those catchy Progressive ads, it’s

cheaper to bundle, like Unicorns and Glitter!! So while you may not have or actually need one or more coverage that is provided, it’s cheaper.

One portion of your package is Other Structures coverage. This covers exactly what it says; structures that are on your property that are not your home itself. A great example of this is a storage shed.

One of the most important of the coverage is contents coverage. Just like discussed in one of my previous posts about Renter’s Insurance, your contents coverage covers your “stuff”. This would include things such as your furniture, silverware, clothes and even those things you may forget in the event of a total loss such as your toothbrush!

Another important package part is the loss of use. What would happen if your home was damaged by a large falling tree and you couldn’t stay there? Isn’t it nice to know that our homeowner’s packages include coverage to help put you up in a hotel and even pay for your meals!! That is what this awesome little feature covers!!!

Do you have computers, guns, jewelry furs and other valuables or collectibles?? Check back with us to see how you cover these items that you probably hold ever so dear!!!

Homeowner’s Insurance

Your home is probably your largest investment. It provides you with a sense of comfort and security. What would you do if something happened?  Homeowner’s insurance is imperative for every homeowner. Homeowner’s insurance will give you the peace of mind that you need to continue to rest comfortably in your home.  Like auto insurance, there are several types of coverage that you should be aware of.

Today, I’d like to talk to you about the most basic of the coverage, coverage of your dwelling. This is the amount that will actually cover the structure of your home. This coverage is normally calculated by determining reconstruction cost. This cost is how much it would cost you to rebuild your home exactly as it stands today. This amount may be more than you owe on your home.  It could also vary from your appraised value. Our licensed agents have the tools to calculate your reconstruction cost and with a few short questions can give you an accurate figure.  If you’ve lived in your home for several years; you should contact your agent about performing an updated evaluation; because like the cost of oil, the cost of building supplies has increased. You don’t want your home to be underinsured!!!

Dwelling coverage is subject to a per incident deductible. This is how much you are willing to accept out of pocket.

Check back with me next week to talk about other coverage on your homeowner’s policy!

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