Homeowners Insurance

homeownersFor many of us our home is our largest single expense in our lifetimes. It makes sense to protect it with a good Homeowners Insurance policy.

If your home is financed, your bank will require Homeowners Insurance. Even if you own your home free and clear, Homeowners Insurance will pay to replace your home and possessions in the event of storms, fires, and other disasters. Additionally, it protects your assets if someone is injured in your home or around your property. This is especially relevant to individuals with a high net worth.

The annual cost of Homeowners Insurance is determined by many factors, such as property value, type of home, and area-related risks (such as coastal hurricanes).

What Homeowners Insurance Covers

Homeowners Insurance typically covers:

  • Damage to your home and other structures on the property unless specifically excluded by your specific policy.
  • Damage to contents (personal property) such as furniture, and appliances.
  • Coverage for temporary living quarters if you your house in rendered uninhabitable by a covered event.
  • Protection against lawsuits in the event someone is injured or killed in your home.
  • Limited coverage for jewelry and other possessions. Additional coverage for these costs can be purchased through special endorsements to your policy. A popular option is a stand-alone jewelry policy with it’s own deductible. Then, in the event of a jewelry claim, it does not affect the status of your Homeowners Insurance.

PLEASE NOTE: Most Homeowners Insurance policies do not cover flood damage. Separate flood insurance is required, especially in flood-prone areas.

Call Alliance Insurance Group today and let our expert Independent Agents help you determine what limits and types of coverage are best for your home, or fill out our online form to request a quote. Be sure to ask us about coverage for condos and rental property.