Protect Your Livelihood with Home Insurance

Chances are, your home is dramatically different than your neighbor’s home. Even if the properties are the same size or have similar outdoor amenities, your belongings and your lifestyle truly make a house a home. So, forget one-size-fits-all insurance policies; your home insurance coverage should be specifically tailored to meet the needs of your family and protect the things you love most. First Heritage Insurance Agency can help you find a home insurance policy that covers your personal assets.

How Can I Protect My Home?

Homeowner’s insurance is the best way to help cover the cost of required repairs to your home after it is damaged. Many policies also protect the contents of your home from these incidents and/or loss through theft. For optimal protection, your policy should include two specific coverage types:

• Dwelling insurance pays for damage to the structure of your home, from the foundation to the roof shingles and everything in between. It does not, however, cover personal property or structures outside the home like fences and sheds. A dwelling insurance policy covers certain occurrences, commonly fire, windstorms, natural disasters, theft, and vandalism. Flood insurance is usually a separate policy if you live in a flood zone.
• Personal property insurance covers the belongings within your home, including but not limited to electronics, clothing, furniture, cooking supplies, and other living essentials. Some policies cover the actual cash value of your items, while others cover the cost to replace your items at current market costs. This type of coverage provides funding to help re-establish your household after a fire or otherwise devastating event.

What Homeowner Policy Is Best for Me?

First, determine the amount of dwelling coverage you need by calculating the cost to repair or replace your home in the case of a total loss. This amount is not the price you paid for your home or its current market value, but the cost to rebuild a similar structure with current construction costs. A professional home appraiser can help if you aren’t sure how much it would cost to replace your home.

Personal property coverage is based on the value of or the cost to replace your belongings. Take a thorough inventory of your property, keeping in mind that you would need to buy everything from new throw rugs to bedding to pots and pans if you lost your home.

Some homeowner policies provide add-on coverage for specific situations. Common options include:

• Personal property riders with increased coverage for valuable items such as jewelry
• Business liability insurance if you run a home-based company
• Coverage for separate structures such as fences, stand-alone garages, and swimming pools
• Coverage that helps pay the medical expenses when a guest is injured in your home
• Family liability coverage for legal fees, medical expenses, lost wages, and other expenses arising from unexpected, unfortunate events
• Water backup coverage for damage caused by surface water entering the home
• Flood insurance to cover water damage caused by a flood
• Coverage for additional living expenses in case your family must relocate after a catastrophic event

How Do I Get a Home Insurance Quote?

Whether you need a basic homeowner’s insurance policy or coverage with all the bells and whistles, contact the team at First Heritage Insurance Agency for your free home insurance quote. You can also bundle coverage with your auto insurance policy for even greater savings. Call us at 631-659-2889 today.