Homeowners insurance is one expense that you simply can’t skim on since your home is the biggest asset that you have. While it is not illegal to own a home without coverage, third party lenders who initially financed the building will more than likely require a policy to be in place before the papers are approved.
For the most part home insurance is typically divided into either building or content categories. This is true whether you live in Conover, North Carolina or elsewhere in the country.
It is important to pay attention to all aspects of these policies including the amount of liability coverage. If an accident happens in your home the claim will be against your homeowners insurance so having the right amount of coverage is crucial. Home insurance will vary depending on how large the house is, where it is located and the level of coverage that you need
With a homeowners insurance policy, the portion related specifically to the building covers the costs of rebuilding the main structure and other associated buildings in the immediate area in the event of a disaster. It is paramount that you are completely covered for site clearance and the rebuilding of your home. A basic home insurance policy may also contain some fine print that will outline what is covered in case of natural disasters so it is important that you read and understand all of these aspects of the contract.
For anyone living in a flood area separate policies can be purchased through the Federal Flood Insurance Program.
A good insurance contract will also cover any loss or damages incurred while you are away as well as losses of cash and credit cards.
You should always be sure that you have the proper amount of coverage against liability. This means that if somebody falls in your home or your pet happens to destroy a neighbor’s property you are covered.
Home insurance policies apply to rentals as well. You won’t have to worry about the building aspect, only the contents within it since you don’t own the structure.
Call us at 800.601.7829 to obtain a free quote.