Buying a home comes with quite a few tasks and hurdles but it’s also the most important purchase in the lives of most people. When you decide to purchase a home, you’ll have to make small choices like, what kind of lawn ornaments do I want as well as major choices like how much should I budget for a mortgage. When it all comes together, you will have made so many decisions and choices to make your home just the way you want, the one thing you’ll want to do is protect that home with homeowners insurance.
Types of Damage
Most policies will cover four types of damage which are listed below:
-Interior damage: This type of homeowners insurance covers anything that needs to be fixed or repaired inside the home
-Exterior damage: This type of homeowners insurance covers anything that needs to be fixed or repaired outside of your home
-Loss or damage of personal items: This type of homeowners insurance covers you in the case your items get stolen or damaged in an incident
-Injury: This type of insurance covers you in the case that someone is injured on your property
Do I Need It?
This is a common question when it comes to insurance for pretty much anything. Many people shop around and comparing rates to make sure they are getting the best deal as well as getting the insurance that meets their needs. Being that purchasing a home is a much larger expense than say a vehicle, it’s very important that you consider the different types of coverage available since there are several different instances where homeowners insurance can be useful, even if the damage isn’t directly to your home.
Typically, your basic policy will cover to pay for the repairs that are needed if your home were to be damaged in the incident of a major disaster like fire or hurricane. Other such disasters, which are typically out of your control, should be listed in your individual policy. You’ll also want to make sure your policy can cover the cost to rebuild your home should it be completely lost in a disaster.
It’s important to have homeowners insurance because not only does it protect you in the case of structural damage, but it can also be used to cover damages to your personal belongings. For example, if you have a closet full of nice dresses or coats, and that closet happens to flood and ruin those items, those items are covered in an insured disaster.
The basic type of insurance is liability. It is similar to liability insurance with vehicles. If someone happens to sustain an injury on your property or if you cause damage to a property, liability will pay for those damages or cover the medical expenses in the case someone happens to slip and fall in your home.
Reach Out Today!
Insurance is available to make you feel safe and it’s important that you feel safe in every way possible when it comes to you home. We can discuss your options with you to make sure you are getting the coverage you need and that fits your budget. Reach out to North Star Mortgage Network in Jacksonville, FL today!