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Homeowners Insurance

Homeowners insurance is a policy that covers damage to a home or property. It also covers legal responsibility or liability if someone is hurt on your property and sues because of the incident. Damage caused by family pets is often included as well.

Sometimes a mortgage company requires this type of insurance. This is because the mortgage company has an investment in your home. Until you’ve paid the loan, the structure is technically theirs. It’s not a law to have this insurance, but all homeowners should consider coverage to protect their financial investment.

When your property is damaged, you contact your insurance company. Your agent can help you with the process, which includes submitting a claim. An adjuster comes to your home to access the damage. Your claim is denied or approved, based on what the adjuster finds. If it is approved, then the insurer will issue a payment.

Standard policies cover your home and the belongings inside. While standard policies cover most property damage, there are exceptions. Just keep in mind that earthquake and flood damages need to be covered by separate policies.

The biggest benefit of this insurance is it’s a great way to protect your investment. Once you begin exploring policies, you’ll find that coverage can be found for an affordable cost. That low monthly fee results in a multitude of benefits.