At Let’s Insure in San Diego, CA, we believe that informed customers are better able to make decisions about the insurance they need. Homeowner’s insurance can be complicated, with many different aspects and options. Here are a few things you should know about home insurance.
Different Types of Coverage
A standard homeowner’s policy has different types of coverage. First, it covers the structure of your home and its contents. This includes theft, vandalism, and natural disasters. It also covers your liability if someone gets hurt on your property. It will also cover any detached structures on your property, like a garage or barn.
There are three basic types of coverage for any kind of insurance policy. These are actual cash value, agreed-upon value, and replacement value. The actual cash value will cover the current value of your home or belongings. Replacement value will include the amount you would need to replace these items. You can also opt for an agreed-upon value. With this option, you and the insurer set a value that is irrespective of its actual value.
Homeowner’s insurance covers many disasters, including fire and storm damage. However, it doesn’t cover floods. You’ll need a separate flood policy or an add on. You may need an earthquake policy as well.
If you have expensive antiques, electronics, or jewelry, you may need additional coverage for these items. Your standard policy probably won’t provide enough coverage to replace them.
Know Before You Need It
Every policy is unique, so you will need to speak with your insurance agent about exactly what is covered. If certain things aren’t covered, you can generally add options to your policy that will. Don’t wait until you need it to find out that you aren’t adequately covered.
Home insurance is vital to protect your investment in your home and your financial security. The right insurance policy can give you peace of mind and allow you to enjoy your home. At Let’s Insure in San Diego, CA, our agents are happy to assist you with choosing or upgrading a homeowner’s policy.