One fact of home ownership is that you need to protect your property. Your mortgage lender will require it, and peace of mind does too. Homeowners insurance provides that protection.
Another fact is that when you work with Dostal & Kirk you will understand your coverage and get the service you expect. When a water pipe bursts, we will be there to help you get the repairs necessary to bring back peace of mind.
Homeowners Insurance Explained
There are many parts to any homeowners insurance policy, but the four main coverage components are:
Building. Coverage usually includes unattached structures such as garages, sheds, retaining walls, fences and more. It insures against most perils that could cause damage to your home, including fire, lightning, explosions, theft, vandalism, smoke, snow, ice, water overflow, vehicle crash, falling objects and others. Common exclusions are flood and earthquake, which may mean you need to add coverage, depending on your location.
Contents: Your personal property and contents of the home are protected from the same perils as the building. The total value of your belongings is determined as a percentage of the home’s structure coverage, which means if you own many valuables, you will likely need additional coverage for the contents of your home.
Liability: Coverage will compensate for medical costs and legal expenses associated with damages or injuries to others caused by you or family members on your property or away from home, up to a certain limit. Liability coverage is what protects you when your dog or other covered animal bites a neighbor.
Temporary Living Expenses: If your home is damaged, this will cover your housing, meals, car storage and other expenses while your home is repaired or rebuilt. It usually pays up to a certain percentage of the total amount your home is insured for.
- Raise your deductible
- Multi-policy discounts if you use one company for both home and car insurance
- Age discounts, based either on your age or the home’s
- Home security discount (home alarms, smoke detectors, deadbolt locks, etc.)
- Claims-free discounts if you don’t file a claim for a certain number of years (varies by insurance company)