Homeowners Insurance

Home insurance coverage is very important for homeowners. Not only will it protect your property from a misfortune, but it’s also a requirement before a bank can close on a loan. Basic homeowners insurance is a combination of coverage for fire, windstorms, theft, and liability.Q: What will a home insurance policy cover?
A: A homeowner’s policy generally will cover the following:
• Your dwelling (home structure), attached garage, storage sheds and pools.
• Personal belongings inside your home. This is only up to the limits of the policy
• Protection from liability, including damage arising from the home itself
• Living expenses better known as “Loss of Use” will protect you in the case of a fire or natural disaster that temporarily keeps you from living in your home.

Often for additional fees you can add optional coverage such as:
• Higher liability limits for property or bodily injury
• Replacement cost
• Earthquake
• Flood
• Identity Theft

Q: What is renters insurance?
A: The HO-4 policy intended for renters and/or tenants will generally cover your personal property in the case that it is damaged by fire, smoke, water leakage, building collapse, stolen or destroyed. Also, if someone gets hurt in your home, you will have liability protection. It will not cover the building structure as it is already covered in the landlord’s policy.
Q: Do I need insurance coverage for my Condo if the association provides insurance coverage?
A: Yes, It is very important to have personal condo insurance. You are solely responsible for your personal property as well as floors, ceiling coverings, walls, and any customized structures inside your unit. Associations have policies that cover the property and outside physical structures.
Condo Insurance usually provides coverage for:
• Dwelling and other structures
• Personal Property
• Loss of use
• Liability
• Medical Payments