How to Buy Homeowners Insurance
Homeowners insurance is a necessity if you've borrowed money against your home (that is, you have a mortgage), and it's a good idea even if you don't. Banks and other lenders require homeowner's insurance as a condition for the loan to protect their collateral (your home). The right policy will be able to replace your home or settle a lawsuit in case the worst happens. Even if you don't own your own home, renters insurance can help you make sure that your contents and assets are as safe as possible.
A homeowners policy has two parts, property and liability.
- The property protection portion of your homeowner's policy lays out the way your home, property, and any other buildings on the property are protected. The amount of coverage should be enough to replace your home, which is usually more than you paid for it. A good insurance agent will spend time with you to make sure you have the proper amount of coverage. Property protection generally doesn't cover motor vehicles parked on the property, and coverage for valuables such as jewelry and cash is limited unless additional coverage is purchased.
- Liability protection includes protection against lawsuits resulting from accidents on your property, and medical payments resulting from such an accident. Liability may protect you and those family members that live with you, however medical payments will not be paid to you or your family. Grapeville Agency recommends coverage of $5,000 in medical payments and $500,000 in liability.
It is very important to note that Homeowners policies do not include flood insurance. In addition, most policies do not cover injuries to animals, damage from mudslides, water damage from sewer backups, damage resulting from war or nuclear hazard, neglect, earthquakes, power failures, seepage, dry rot, or vermin.
Discounts are typically available for:
- having your auto or other insurance with the same carrier,
- alarm systems that report to a central station automatically,
- homes that are located within 1,000 feet of a fire hydrant, and
- raising the deductible - how much money you will have to pay before the coverage kicks in
For an accurate quote from Grapeville Agency insurance, remember to bring:
- your mortgage and other loan documents,
- an inventory of valuables in your home, such as firearms, artwork, and jewelry, and
- knowledge or information about the materials your home is made of
Homeowners insurance is an important investment to protect your house, its contents and your assets. Our agents specialize in working with clients to make sure they have the right amount of coverage. If you have additional questions, please give us a call at 518-966-4466 (or toll-free 800-287-3689) or check out our Frequently Asked Questions (FAQ) page.
How to Buy Homeowners Insurance
Homeowners insurance is a necessity if you've borrowed money against your home (that is, you have a mortgage), and it's a good idea even if you don't. Banks and other lenders require homeowner's insurance as a condition for the loan to protect their collateral (your home). The right policy will be able to replace your home or settle a lawsuit in case the worst happens. Even if you don't own your own home, renters insurance can help you make sure that your contents and assets are as safe as possible.
A homeowners policy has two parts, property and liability.
- The property protection portion of your homeowner's policy lays out the way your home, property, and any other buildings on the property are protected. The amount of coverage should be enough to replace your home, which is usually more than you paid for it. A good insurance agent will spend time with you to make sure you have the proper amount of coverage. Property protection generally doesn't cover motor vehicles parked on the property, and coverage for valuables such as jewelry and cash is limited unless additional coverage is purchased.
- Liability protection includes protection against lawsuits resulting from accidents on your property, and medical payments resulting from such an accident. Liability may protect you and those family members that live with you, however medical payments will not be paid to you or your family. Grapeville Agency recommends coverage of $5,000 in medical payments and $500,000 in liability.
It is very important to note that Homeowners policies do not include flood insurance. In addition, most policies do not cover injuries to animals, damage from mudslides, water damage from sewer backups, damage resulting from war or nuclear hazard, neglect, earthquakes, power failures, seepage, dry rot, or vermin.
Discounts are typically available for:
- having your auto or other insurance with the same carrier,
- alarm systems that report to a central station automatically,
- homes that are located within 1,000 feet of a fire hydrant, and
- raising the deductible - how much money you will have to pay before the coverage kicks in
For an accurate quote from Grapeville Agency insurance, remember to bring:
- your mortgage and other loan documents,
- an inventory of valuables in your home, such as firearms, artwork, and jewelry, and
- knowledge or information about the materials your home is made of
Homeowners insurance is an important investment to protect your house, its contents and your assets. Our agents specialize in working with clients to make sure they have the right amount of coverage. If you have additional questions, please give us a call at 518-966-4466 (or toll-free 800-287-3689) or check out our Frequently Asked Questions (FAQ) page.
