As a responsible homeowner in Concord, NC, you know that purchasing homeowners insurance is crucial. But how do these policies differ from property insurance? A Better Choice Insurance Agency Inc can help you answer this and many other questions related to insurance coverage. The following information will clarify some of the differences between these policies while also highlighting some similarities.

Property Insurance

Property insurance is not relegated to homes alone. All sorts of property can be covered under a policy, including items like vehicles, boats, or household belongings. Damage caused by wind, fire, lighting, and even theft are often covered. However, it’s important to check your policy to verify a specific event is included in this. This type of insurance is also considered first-party coverage. As a result, damage incurred to your property will be reimbursed by the insurance company offering the policy.

Homeowners Insurance

Homeowners insurance has many similarities to property policies. For instance, damage to your home can be covered, as can damage occurring to your actual belongings. Where these policies differ is liability coverage, which can shield you from lawsuits.

Let’s say a guest in your home is injured. If this guest decides to file a negligence claim, you would be responsible for legal costs as well as any medical bills incurred. With a liability policy in place, these costs will be covered. Liability coverage is extremely helpful and something that many homeowners overlook when shopping for insurance.  

If you’re in search of a homeowners or property insurance policy in Concord, NC, A Better Choice Insurance Agency Inc is the place for you. With over 25 years of experience in the industry, they have the know-how to find a policy that meets your needs and budget. Speak with an agent today by calling (704) 782-2073. Or, use their convenient online contact form to learn more.