Your home is one of the most valuable assets you are likely to own. It’s where your family lives, and the center of your personal life. It’s also shelter, which means it protects you from the elements and everything else out there. Protecting it, in turn, against a wide range of possible problems is smart business and good for your well-being.
A homeowners insurance policy is broad coverage with limit as high as the property’s value. It covers damage to the building–and the possessions inside–due to weather, natural disasters, and other hazards. It also compensates you for loss of use, should your incident make it temporarily uninhabitable. Medical expenses for people injured on your property are covered as well, which can help you avoid costly and unpleasant lawsuits. Most policies include standard policy coverage, but each can be customized to your unique situation, to protect what’s most important to you.
This protects against:
Types of coverage
Your situation may require more homeowners insurance coverages than a traditional policy. The following are some commonly-overlooked areas that could be exposing you to unexpected loss:
Home Based Business
In most states, homeowners policies have limits as to the amount of business-related equipment and supplies are covered. If you operate a home-based business or routinely work from home, additional coverage can help protect your business. In some states, this can be as simple as adding an endorsement to an existing policy.
Replacement cost coverage for the contents of your home does not always cover high-value items. Ask a representative about your coverage schedules to ensure your policy covers your valuables. An endorsement or additional coverage may be needed.
Many homeowners policies limit or exclude the loss of certain items due to theft, even if the item would have been covered due to another type of loss. There are also limits to high-value jewelry items or collections.
Significant changes to building codes, deed restrictions, and zoning may increase the cost of rebuilding or repairing your home after a loss. Ensuring your policy covers a viable replacement, rather than simply reimbursing you for the original cost of the asset, can grant true peace of mind..
Get started with an Home Insurance Policy
Carroll Insurance is here to help you protect your home and everything in it. We can provide an ideal homeowners insurance program that will fit your needs at a competitive price.