Understanding Homeowners Insurance

Dated: March 21 2024

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Homeowners insurance is more than just a requirement; it's your safety net against unexpected events. While lenders mandate it, understanding its coverage is crucial.

Here's what a standard policy includes:

·       Protection for repairs due to fire, hurricanes, vandalism, and other disasters, though separate coverage might be needed for structures like garages.

·       Coverage for temporary accommodations (rental/hotel) if your home needs rebuilding or repairs.

·       Replacement of clothing, furniture, appliances, and most belongings if damaged in a covered event.

·       Options to insure valuable items like jewelry, fine art, or antiques with additional riders or separate policies.

·       Personal liability coverage, safeguarding against lawsuits from injuries or damages on your property.

However, there are exceptions:

·       Some natural disasters and acts of war may not be covered.

·       Additional coverage might be necessary for flood, hurricane, or earthquake-prone areas.

·       Sewer and drain backups typically require separate add-ons.

·       While identity theft isn't usually covered, some policies offer recovery add-ons reimbursing victims.

Have questions? Call me.

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Wendy Anderson

When it comes to buying or selling a home, standing out is the key to success. Finding a professional who can think outside the box while remaining dedicated to your best interests is important during....

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