"Homeowners insurance provides coverage for your home and everything inside it in the case of certain kinds of damage, theft, or disaster.
Aside from personal attachment and security, your home is an expensive thing to replace, let alone everything inside of it.
To show you why homeowners insurance is so important, consider the example of a natural disaster destroying your home.
With homeowners insurance, you personally wouldn’t have to cover all of the costs required to rebuild your home.
Without home insurance, you would have to cover all of the costs yourself.
While there are technically many kinds of insurance inside the general category of homeowners insurance, there are basically two types of policies to choose from: replacement cost and actual cash value.
Replacement cost homeowners insurance pays claims based on the cost of rebuilding or repairing your home at the time it is damaged or destroyed. This type of policy is more suited to cover property and possession damage.
An actual cash value homeowners insurance policy pays claims after accounting for any depreciation in your home's value. While this type of policy is typically cheaper, it usually won't pay out enough to fully repair or rebuild a damaged home.
In terms of the specific kinds of coverage available, it can vary from provider to provider.
However, here are some of the most common kinds of coverage:
Again, these are just some of the most common kinds of coverage. Some providers may require you to pay extra to get specific kinds of coverage." (1)
You're probably expecting this section to be about why you should use us for your Insurance needs, but that's not what this will be about. All we're going to stress here is using a responsive, trustworthy agent, it doesn't have to be one of our agents. You deserve to have someone on your side when you need them. By using a good agent you're going to have a knowledgeable resource to lean on when that time inevitably comes when you have a claim. Even all the other years where you're claim-free that agent will be on your side, reviewing rate changes, making sure you're covered properly and adequately. Price is important, but service makes all the difference when you need it; try to find the balance that makes you comfortable.
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1. “15 Homeowners Insurance Questions You Need Answered.” HowStuffWorks Reviews, 28 July 2020, reviews.howstuffworks.com/home-insurance/articles/15-homeowners-insurance-questions-you-need-answered?sc=WdqMf3RjyqB210.