Are you looking for a new home? Whether you live alone or have a family, or are buying a mansion or a modest three bedroom, you need insurance. Home insurance protects your investment and helps you avoid the risk of financial ruin in the event your home becomes damaged or you are unable to live there anymore. What should home insurance cover? Are there additional policies you should consider?
Common Coverage in Home Insurance
Before purchasing a policy you need to know what one should include. A reputable insurance policy should include coverage for the house and the items (furniture, appliances, and more) within your house. You should also have protection for lost expenses in the event you must leave your home following a natural disaster or fire. You should also have protection should your home require repairs or replacement. There are additional coverage options you can consider, but you basic home insurance needs to contain these protections. If you have any questions, don’t hesitate to contact your Carrollton, TX insurance agency.
Do I Need to Purchase Flood Insurance?
Your home insurance will not include flood coverage. If you live in a flood-prone area, you may need to purchase a policy through the National Flood Insurance Program. We can find out if you are eligible. If you live an area not prone to floods, then you still need coverage, as massive rainfall, snow melts, or even a damaged water/sewer line can cause damage your home policy may not cover.
What If I Have Valuable Items in My Home?
To ensure you receive the full value of your collectibles or valuables in the event of theft or the loss of you home, you may consider a floater policy. Floater insurance provides coverage for specific items of high value.