Buying your first home is an exciting milestone, but it also means gaining a valuable asset that’s uniquely vulnerable to a range of risks. A single extreme weather event, fire, or burst pipe can cause extensive damage or render the house uninhabitable. Fortunately, homeowners insurance protects the value of your investment along with coverage for many other aspects of your life.

A Guide to Homeowners Insurance Coverage

1. Dwelling 

The primary purpose of homeowners insurance is to pay to repair or replace your house, fence, or other structures if they’re harmed in a covered event. The policy protects against a wide variety of threats, including fire, hail, high winds, and some types of water damage.

2. Personal Property 

Along with the structure of the house, a homeowners insurance policy also protects the items inside. If your possessions are ruined or damaged by a covered event, the plan will pay to repair or replace them. However, you might need to purchase additional coverage if you have especially valuable items.

3. Liability 

Owning a home means you’re also responsible for the safety of anyone with a right to be there, so you could be held liable if someone is injured on the property. Homeowners insurance covers the cost of any valid claims, potentially protecting your financial future.

4. Optional 

Some perils, like floods, earthquakes, and sewage backups, aren’t included in the standard policy. Because these risks can be so destructive, you may want to consider purchasing additional coverage for maximum peace of mind.

Choosing a homeowners insurance plan can be overwhelming, especially for first-time buyers. Fortunately, the agents at Mitchell Insurance Agency LLC in Texas County, MO, have the selection and expertise to guide you through the options and select a policy tailored to your needs. Visit the website now for an overview of their services, call (417) 967-2140 to request a quote, and follow their Twitter for updates and news.